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Gordon Booth · 13-04-2013, 15:34

So we should have kept the subsidised mines alive so they could produce coal which was still more expensive than we could buy abroad?

Well let's be fair and even handed then.

We should have kept all those shipyards open even though no-body was buying our ships, Korea Japan etc. were cheaper.
BL- we should have kept it alive, there were plenty of fields left to put the cars on which they couldn't sell(even to BL workers).
TV's,washing machines, fridges, clothes( even M&S clothes), shoes- we should have subsidised ALL these factories to keep ALL the workers in work? Even though the goods they produced were more expensive than we could buy from abroad?

Only one problem- 2+2=5 doesn't work. You run out of money. You can't have subsidised industries employing subsidised workers to produce subsidised goods which they can't afford to buy because their taxes rise to pay the subsidies to themselves and everyone else.

As the goods are more expensive than foreign stuff you can't export it. You're out of business!

We should have replaced our old industries which couldn't compete with modern hi-tech industry which the rising economies couldn't beat.
We didn't, we relied on banking, North Sea oil and gas to keep us afloat. It worked but only for a little while.

13-04-2013, 15:34	#79
Gordon Booth Senior Member+ Join Date: Jul 2010 Posts: 2,402 Liked: 715 times Rep Power: 46611	Re: Keeping Dead Industries Alive.... So we should have kept the subsidised mines alive so they could produce coal which was still more expensive than we could buy abroad? Well let's be fair and even handed then. We should have kept all those shipyards open even though no-body was buying our ships, Korea Japan etc. were cheaper. BL- we should have kept it alive, there were plenty of fields left to put the cars on which they couldn't sell(even to BL workers). TV's,washing machines, fridges, clothes( even M&S clothes), shoes- we should have subsidised ALL these factories to keep ALL the workers in work? Even though the goods they produced were more expensive than we could buy from abroad? Only one problem- 2+2=5 doesn't work. You run out of money. You can't have subsidised industries employing subsidised workers to produce subsidised goods which they can't afford to buy because their taxes rise to pay the subsidies to themselves and everyone else. As the goods are more expensive than foreign stuff you can't export it. You're out of business! We should have replaced our old industries which couldn't compete with modern hi-tech industry which the rising economies couldn't beat. We didn't, we relied on banking, North Sea oil and gas to keep us afloat. It worked but only for a little while.