Britain’s Tory Meltdown Is a Case of Socially Determined Stupidity

The new Conservative prime minister Liz Truss has experienced a spectacular humiliation during her first weeks in office. Her self-defeating agenda reflects the mindset of a Thatcherite ideologue managing an economy already ravaged by decades of Thatcherism.

The new Conservative administration, a little over two weeks old, is already reeling. Its “mini-budget,” a cocktail of substantial tax cuts with high borrowing and state spending, has helped tank the pound sterling and discredit Britain in the eyes of traders.

 

Source: Britain’s Tory Meltdown Is a Case of Socially Determined Stupidity

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