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Strikes, inflation, slump... back to the 70s? More like the unwinding of Thatcherism

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This is not the 1970s all over again, notwithstanding the apparent similarities – oil shocks, recession, seasons of discontent, inflation.

What we are living through is something more profound. It is the painful unwinding of the dysfunctional Thatcherite economic model, driven by credit, consumption and property prices, so careless of investment, productivity and good, high-performance workplaces.

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