A very well-analysed article.
Past performance, as they say in financial services, is not an indicator of future outcomes. The same is true in politics.
There are some broad lessons one can draw from history: the British electorate tend to vote solely on domestic issues, for example, as Winston Churchill found out in 1945, and Tony Blair in 2005 – and possibly Theresa May this year. But there are times when one has to admit that looking at the past is no help at all; the present really is a different country.
Which is pretty much the case right now. We haven’t been anywhere like this in modern times.
You can see some parallels, of course. Maybe the late 1970s, when living standards fell, with prices rising faster than wages, and there was a loss of faith in the future. We also then had a government expressing doubts about the economic policies that had…
View original post 1,055 more words