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:

 

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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

 



 

2. Thatcher’s Economics. Monetarism

 

It is a curious fact that in spite of being so heavily influenced by Austrian style libertarianism, Thatcher, in 1980, also signed up fully to one of its foremost rivals – the Chicago school of monetarism lead by Milton Friedman. Although Thatcher is portrayed by her supporters as a clear-eyed, single-minded visionary, the reality is that she was easily influenced by fads. There is no better illustration of this than her embracing of two opposing economic ideas at that same time.

Monetarism was all about state intervention of the type the Austrians shunned. It was predicated on the simple idea that the way to control inflation was to control the money supply. This in turn was based on a very old economic theory: the quantity theory of money, and this tells us that prices in the shops will increase if there is more money in the economy – “too much money chasing too few goods”.

I will not go into the detailed arguments about monetarism here, but suffice it to note that there have been many occasions (e.g. Britain in the noughties) where the money supply boomed and consumer inflation did not. The empirical evidence for monetarism does not exist and in addition the theory is flawed, for if there is more money in the economy it can just circulate more slowly and prices will stay the same.

Thatcher did not see these failings and in the early years of her reign adopted monetarism with gusto. Friedman was overjoyed for this was the first time his academic theories had been fully tested in a real live laboratory (here the laboratory was the British economy). There was an enormous squeeze put on the amount of money in circulation in an effort to keep inflation down which at the time had overtaken the high rate she had inherited. Three things resulted. Firstly the pound took off on the exchange markets (although this was also partly due to the knowledge that the pound was about to become a petro-currency) and secondly, as a result, exporters could not compete as imports flooded in. Thirdly the squeeze on money and government expenditure cut off markets that businesses had formerly depended on. Unemployment took off and the economy tanked.

At this point this conviction politician who was “not for turning” dropped monetarism like a hot brick and continued with the uncontaminated Neo-Liberalism. This left Friedman in the same position as the libertarians complaining that monetarism had not been applied long enough and fully enough. British industry has never recovered from Thatcher’s monetarist experiment.

 

 


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