04/12/2009 11:35:05 am
Post Post-Thatcher. The more free-market Anglo-Saxon countries have been very criticised during the financial crisis. But their economic growth rates have been dramatically higher than more regulated countries like Italy or France for three decades. And the downturn during this crisis has not changed anything. The US and the UK are still way ahead on prosperity.



This is one main message in an interesting column by Martin Wolf in today′s Financial Times. The reforms launched by Thatcher and Reagan had very important effects in terms of unleashing the forces of wealth creation. This is why New Labour didn′t change any of what Thatcher did. Now it is time for the post-crisis policies to be shaped, and they should continue in the same direction as previous reforms.