Precisely, we earn more from higher value, niche products. We would be poor if all we did was concentrate on old, labour intensive, low value added productivity.

Same with the railways, funnily enough there was enough private capital around when they were built to fund them, now when we need a railway built to help the economy it has to be built using taxpayers money.

Same old capitalism, privatise the profits and nationalise the debts.

You know you are right when Mintball resorts to the patronising treatment!!

... and your statement that if we still mined coal and made textiles we would be little better than a "developing economy" is therefore absolute bloody tripe.

I am afraid not. If we had mass employment in cheap textiles, coal mining and other such industries, we'd be alot poorer.

Why?

(Genuine question, not stirring)

Because if, say, we competed with the Far East, Africa, South America in producing cheap textiles we could only stay in business by matching their wage structure, working harder, or by having more modern machinery. Assumimg new entrants use state of the art machinery (not always the casew I know, but rapidly becomes so - think how Japan developed very quickly) that means we'd have to compete on unit labour cost. As they tend to work all the hours God's sends in emerging economies we couldn't really work longer for the same pay, we'd need to work for the same or less per hour.

Unless, of course, you took your view that we just mark up high production costs ......and go bust instead!

Fair enough, except my view is not and never has been that we mark up high production costs.



Read what I've posted in the other thread and try to understand it. I'll buy the Janet and John business studies guide for you if it helps.

We could just make a better product and let the quality sell itself, we used to do that, rather than having some naff 5 minute lifespan product we create real quality and hover around the middle to rich income markets.

Agree with that. Unfortunately previous generations, specifically the Conservative Party, don't appear to have been able to identify that skilled manufacturing has a future. All they could see was the impact rising wage costs was having on their dividends and shares. The trade union movement has to shoulder some of the responsibility also as neither sides of the employment relationship was as progressive as it is now (and even then it's only in some circles).

Awesome post. No really, your intellect has really added value to the thread....

Well you and I agree on the Food aspect, I too buy British where I can, am willing to pay more for local and British products where available. There are many who don't though and who are we to question them?

However, this is beside the point. Using your purchasing power is not a valid retort. My question was if it was YOUR money to invest in a company, what would you do? Are you willing to risk losing the money you invest for your "morals"?

I'm not sure what question you asked me. I have never ducked a question and would be happy to answer if you would care to elucidate.

Biggest issue post war was the British working class thought the world owed them a living. Strike upon strike deterred investment and spurred on the perceived gap between them and "management". Management were largely useless and driven on by the strikes and "fear" of the working class, made short term and "secure" decisions.

Other countries, unsurprisingly so, filled the gap that this created with their own products.

??? who did that?

Honestly if you are going to post rubbish like that, how on earth do you expect to be treated seriously?

I used to work in said industry and I can assure you and back it up with FACTS not irrelevant posted rubbish that investment has never been higher.

At last someone who understands economics.

Another utterly brilliant post.

Are you a member of Mensa by any chance?

The world did owe them a fooking living, they spent six bloody years fighting for it

I suggest you speak to, or at least read contemoporary accounts written by some of the "British working class", who after fighting up to six years of a war, returned to find that little had ever changed. The "old money" still ruled like Victorian mill-owners and thought that the sun would never set on "our" empire. Ex-servicemen would just drop their weapons and pick up the picks, shovels, lathes etc that they'd left in 1939. While the women who were good enough to keep factories and farming working, while looking after families, would just go back to their kitchen sinks.

A re-alignment was needed, unfortunately it never went far enough.

Haha

Oh dear.

This is EXACTLY the attitude that meant that closing factories, mills etc invevitable.

Whilst the UK was wallowing in some kind of bubble, expecting the world to thank them for their efforts, the rest of the world was knuckling down and perfecting their industry.

Do you think the British were fighting in WWII for some kind of socialist revolution?

The British were fighting to ensure their survival. They were fighting against totalitarian dictatorship.

To suggest there ought to be some other expectation is laughable.

"A land fit for heroes."

As I said, try speaking to some of those who fought or lost relatives in WW2, then you'll get some idea of just what they did expect post-1945.

For someone who has just popped up on this board you sure are cocky, I'd suggest winding your neck in.

Bloke talks a lot of sense. What's he done wrong?

Popped up? I have been posting on "this board" (as quite a few of you are fond of reminding me of) for years. You can't have it both ways, to quote my dislike of the Communist Cap and then to cite me as a new poster.

Cocky? Nope. Just sure of my facts.

Now, any more inspirational comments you would like to share?

Frankly you offer nothing as far as I can see.

I have done. Members of my family to be exact.

Expect or not, the reality is that the world moved on, with or without British acknowledgement.

What did the people who fought for Rome expect? Or Greece? Or Persia? That they would rule the world forever?

Wake up.