In this episode of SDP Talks, SDP leader William Clouston is joined by the economist and entrepreneur John Mills to discuss John’s new book, “The Elephant in the Room“.
John and William reflect on the damage done to Britain by the decline in its manufacturing sector, the failure of the post-1979 economic order in maintaining growth and prosperity, and what can be done to help Britain reindustrialise.
Great interview.
This is a difficult conversation that just isn’t being had, not least because the UK has become overly dependent on its ‘clean’, insular service led economy over the last four decades.
Covid has surely laid that bare?
Economics is inextricable from politics and yet some people ‘conveniently’ choose to forget that, again particularly because they derive their wealth, either directly or indirectly, from that sector and almost invariably because they believe they’re alright Jack thank you very much, but they’re deluded if they think its sustainable in the longer term.
A really interesting and informative podcast. Thank you William and John
A really interesting and thought provoking piece.
Thank you William and John
If people stopped continuing to vote for the useless Liblabconsnp parties Britain could have genuine change
I agree that national resilience, social harmony and (I suspect) the global environment would be improved by rebuilding the UK’s industrial capacity. We hide the worst effects of its loss with reckless borrowing and printing of money. But how can we compete with cheap, skilled labour abroad other than through intense automation of industrial processes? That, of course, demands far fewer and much more specialised jobs than the more labour-intensive jobs which were exported.
An interesting discussion, but an elephant in the room that it overlooks is that resistance to globalisation and the impact of Brexit will have a further impact on reducing the UK’s industrial base, particularly high tech/high value industries such as aerospace, automotives, pharmaceuticals etc. In the late 1970s products of these industries were simple enough to be developed and manufactured by a single country. This is no longer the case with freedom of movement of people, components, information etc across our borders now essential to produce world beating aircraft, cars, pharmaceuticals etc that can compete in the world’s markets. Unless ways can be found to counteract these negative impacts of Brexit the UK’s high tech manufacturing base will diminish further whilst those of our European neighbours will flourish.