1. Something Rotten in the Kingdom.
- Author
-
Singer, Daniel
- Subjects
POLITICAL development ,INVESTORS ,PRICE inflation ,LABOR unions - Abstract
The article presents information on various social and political developments around the world. British multinationals had apparently opted to join Europe in some form of monetary union, hoping that London would be its financial center. With the power of the labor unions broken, low-wage Britain was to be a bridgehead for foreign, mainly Japanese, investors. For the moment what mattered was to beat inflation and prop up the pound, damning the consequences for output and employment. Moreover, it is reported that, for all their recent celebrations of Clinton's victory as a favorable precedent, Labor politicians are well aware that, after their 1992 disaster, what their party needs is not a coat of paint but an overhaul. The first problem concerns the party's relation with the labor unions.
- Published
- 1993