3 ms·
The seventies was indeed chaos on many levels. Know why? The 1973 oil crisis. Most everything else of the dysfunctional, high inflation seventies stemmed from t
by NeedMoreTea 7y ago
The seventies was indeed chaos on many levels. Know why? The 1973 oil crisis. Most everything else of the dysfunctional, high inflation seventies stemmed from that. I remember once getting 15% on a savings account! Below inflation, of course.
Too much union power, and their political aspiration aggravated that rather than caused it. As the economy faltered they continued to seek above inflation pay rises driving inflation higher. Strikes could have one industry supporting another via sympathetic strikes. Until the oil crisis and rest of the seventies it hadn't mattered much, and no one much cared that some union had elected an extremist. The chaos that led to Thatcher and Reagan being necessary came from 73.
None of this related in the slightest to the many community, but not communist, town clubs, amenities, work social clubs, social care and countless other things that died or deformed in the reforms. Which helped push to the little or no community we see today. Thatcher once said something like "there's no such thing as society, just individuals".
Which is why I think the early changes were helpful, especially putting some constraint on unions, but not neutering them completely. The other 30 odd years of going in the same direction have been as damaging as those long fixed seventies problems, so I haven't been especially surprised at the global crises of mental health, loneliness and isolation we've ended up with.