Virtue ....... Freedom ....... Aspiration ....... Wealth ....... Peace

 


 
Manifesto Introduction
 
The party defines itself by the five core policies. So that members and non-members clearly understand what the party stands for, these cannot be changed. At present they are principles the details of which will be decided according to the party constitution
 
All other policies will be decided according to the constitution
 
Below is a provisional list of headings for the Mani-festo each with a link to a page
That page contains provisional ideas for discussion.

Read this, as work in progress. Only DRP paid up members can comment and so if you want to have your say:

 

JOIN THE PARTY AND LEAVE A COMMENT !

 


 

A NEW CONSTITUTION FOR BRITAIN
Constitution Design
Executive
House of Commons Senate
Autonomous Regions

Electoral System

Democracy
Judiciary
Constitutional Court Supreme Court
Functions of Government Public Services Board Monetary Policy Board

Monarchy

 


 

ECONOMICS
Banking

Finance
Globalization
Monetary reform

Personal Finance

Austerity

Great Crisis

 

 

TAXATION
Tax havens
Corporation tax
Income tax
Wealth tax

 

REGIONS
Federal nation
Autonomous regions

 

INDUSTRY
Skills training
Industry needs
Business development
Export assistance

Employment

 

PUBLIC SERVICES
Health
Education
Utilities
Transport Road Rail Air
Social Housing
Postal Services, Telecommunications
Police
Fire Service
Prisons
Probation Service
Waste/ pollution

 

FOREIGN AFFAIRS
Europe
Commonwealth

Islamic World
War
Military provision

 

SOCIETY
Families
Social exclusion
Minorities and race relations,
Citizenship

Economic enfranchisement
Church of England
Civil Society
Deprivation
Youth
Meritocracy
Immigration

Ethical Issues
Humanitarian issues/Animals

 

NATIONAL PLANNING
National planning strategies
Coordination of regions
Transport

Energy/Climate Change

 

 

LAW
Human rights
Liberty
Economic rights
Citizenship
Penal reform
Vice
Drugs
Prostitution
Gambling

 

CULTURE
Arts
Broadcasting/BBC
Press

 

POLITICS
Political parties
Corruption
Protest
Political philosophy

 

SPORT/LEISURE

 

ENERGY

 

ENVIRONMENT

 

AGRICULTURE

 

CEREMONIAL

 

CIVIL SERVICE
Government departments
Prosecution Service

 

 

 


 

ISSUES DISCUSSED IN THE NEWSLETTERS NOT LINKED TO THE MANIFESTO

 

HISTORY

British Republican History

 

OTHER NATIONS

USA

 

 

 

 

© COPYRIGHT. All content of this website unless otherwise indicated is the copyright of Peter Kellow. You may freely quote and republish content on condition that you acknowledge the author the source and give the link to the website www.democraticrepublicanparty.co.uk

 

 

THATCHER'S
MALIGN LEGACY

 

The disastrous neoliberal agenda that still dominates all main parties today



 

1.Thatcherite Economics. Libertarianism

 

The ideology that Thatcher signed up to was libertarianism of the type put forward by the Austrian school of economics. The greatest figure in this school was Ludwig Mises who formulated its main principles whilst his pupil Hayek became a propagandist for Austrian thinking in the west, first in Britain and then in the USA. Hayek was a lightweight compared with Mises but he was more successful as a populiser than Mises and wrote a best seller The Road to Serfdom in which he outlined his theory that the welfare state would automatically lead to dictatorship. (The nonsense of this theory is evident when you look at those states where the welfare state is greatest such as Sweden and France, and then ask yourself if these countries are dictatorships.) Also he unexpectedly received the Nobel Prize for Economics in 1976 (although he had to share it) and this brought him into the public eye. It was through Hayek’s teaching the Thatcher came to know about Austrian economics.

"Libertarianism" is not a word that Thatcher or her supporters ever used, or use, but her adherence to the Austrian version of it is what marks her out as a true ideologist. This is a word usually associated with extreme elements of the US Republican Party or with US independents like Ron Paul. So what is libertarianism? In order to understand libertarianism you have to see it in relation to classic liberalism.

Liberalism is what most people in the political mainstream in the west support and the founding idea behind it is that people should have freedom to do what they want as far as possible. Everyone accepts that freedom can never be total and that we must have laws that inevitably constrain some freedom of choice. A point about this conception of liberalism is that it is does not prescribe government policy. Yes, we should have freedoms but the conventional liberal view sees these as quite independent of policy on other matters, such as how we should run the economy, for instance. To use the jargon, liberalism is not “instrumental”.

Libertarianism is different for it holds that extension of freedoms should constitute an instrument of policy. By freeing everything up so that there are minimum constraints, great policy objectives, such as, say, a prosperous economy, can be achieved. Extreme libertarians are sometimes called anarcho-libertarians for they propose such a minimal role for government that something close to anarchy would reign.

You can see in many fields how the libertarian view dominated Thatcher’s policy and thinking. Notably, she created the ‘big bang’ in the City of London where at a stroke loads of bank regulations were scrapped. Buildings societies could become banks and there was virtually no restraint on bank creation of money. She believed, as a libertarian, this demolition of the civil society, that had been built up around banking, was all that was necessary to ensure success. Just get rid of government interference and all will be well.

There are today still some people who are in denial about the catastrophic consequence of Thatcher’s libertarianism being applied to banking but they really are only a handful. Most people know we are now living through the greatest crisis of modern times and it has its roots in the big bang. Yes, Britain was not the only one to go in for this free-for-all for banks. The USA, led by fellow Hayekian, President Ronald Reagan, did the same thing. But New York and London were the biggest banking centers and so the effect was greatest there. Other countries in the west did not adopt Austrian libertarianism to the same extent, if at all, and in the up and coming countries of Asia it was never taken up.

But the problems of liberalization did not have to wait until 2008 to appear. On Thatcher’s own watch towards the end of the 80s Britain was forced into crisis and this was due to bank liberalization (as well as other Thatcher policies). Credit flooded into people’s pockets driving a massive boom in house prices for three or more years, but then this was brought to a grinding halt as consumer price inflation spiked up dramatically. To stifle inflation Chancellor Nigel Lawson drove up interest rates into double figures throwing the economy into turmoil with consumer spending shuddering to a halt. The interest rates meant a lot of people could no longer afford to pay the mortgage and hundreds of thousands returned their house keys to the lenders. House prices collapsed. Businesses went to the wall and this included many established firms of very long standing. The loss to the productive capacity of the country was catastrophic and we have also never recovered from this.

True libertarians say that Thatcher’s policies led quickly to disaster because she was not full-bloodedly libertarian enough and that the state was too big (it remained at about the same size as Thatcher had inherited throughout her reign). Well, there is little doubt that greater doses of the same medicine would not have worked any better.

Thatcher style half-baked libertarianism by that time had acquired the name of "Neo-Liberalism" which is really just libertarianism but leaving in place a lot of the state, such as state education and welfare. Arguably the libertarians have a point and Neo-Liberalism gives you the worst of all worlds but nevertheless this compromised version of libertarianism became the ideological basis of all so-called “New Right” thinking.

 

 


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