The country’s new prime minister, Andy Burnham, has promised a break from the politics of the last 40 years—realizing more broadly that Labour must stand up for the 99% against big business, or the party will become irrelevant.
balance-of-payments deficits
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The Road to Serfdom, Part III
To understand what made the bubble economy’s credit wave possible, it is necessary to understand how the international financial system was transformed in 1971 when overseas military spending forced the U.S. dollar off gold.
