Saturday, July 30, 2016
The New Prime Minister In Britain Sounds Like Bernie Sanders
Theresa May replaced David Cameron after his bet on the EU referendum failed. In her first public statement, after accepting the Queen's request that she form a new government, she issued a statement that was very strange coming from a Tory Prime Minister. She raised several issues about social justice that are almost identical to those raised by Democrats in their convention. She then focused her attention on the plight of the middle class. They are barely getting by and they are worried about job security and what the future holds for their children. The Tory government under Cameron and Osborn was focused on "fiscal responsibility". To them that meant lowering taxes, primarily for the rich, and cutting government spending in order to run a budget surplus. Tory austerity programs are good for the advantaged and bad for those in need. May will focus her attention on creating more opportunity for those who have not been lucky enough to have had wealthy parents. She has also turned her attention to the current rules of capitalism in the UK which provide economic rents to those who have set the rules. It will be interesting to see whether a Tory Prime Minister can alter the rules of the game in Britain. She has taken an important first step. She realizes that capitalism does not operate in a vacuum. Governments set the rules which determine the form of capitalism that operates in a nation and that the rules have been set to favor the advantaged in Britain.