Potiphar12's Blog
An Octogenarian in the modern world

ECONOMICS

Big topic this week in UK was Autumn Budget statement and concern about our economic problems. Since nobody knows what to do it is not surpising that I don’t! But are lessons from the past always inappropriate – out-dated – not applicable and so on? At the end of WWII the country was heavily in debt and there was a huge emphasis on export. Lot’s of things were made ‘for export only’ and UK citizens just went without. I myself (aged 14) wanted a carpenters plane. My Dad was unable to buy what I wanted because the steel version was ‘export only’. I got one made wholly of wood, except just the blade. Today we don’t hear much about exports – except financial services. Yet we must make some things that other nations want? Can’t we make more such things and make them better or cheaper? And can’t we make for ourselves some of the things we import? We buy them in because labour costs in the originating countries are lower than ours – but what about design and technology? They must affect cost, too.

13 Responses to “ECONOMICS”

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