..."government has taken no notice of the need for a dynamic and industrious manufacturing sector as heaven has been seen solely through the pushing of paper from one side of the desk to the other..."
Governments around the world have been totally complacent about the financial markets and the negative effects of globalization. Politicians have simply looked at the so-called bright side of the equation for political expediency and short-term gain.
In Britain too much emphasis has been placed on the financial side of the economy for far too long and where now we are totally dependent on 25% of our output from the ‘city’ alone. Added to this, service industries inclusive of financial, now account for over 80% of GDP. Therefore government have to a great extent put all our economic eggs in the one basket and where this strategy is ill thought out for our long-term prosperity. Indeed, government has taken no notice of the need for a dynamic and industrious manufacturing sector as heaven has been seen solely through the pushing of paper from one side of the desk to the other.
Now the chickens have clearly come home to roost for all to see through this inept thinking by government and their advisors who have been deluded by the American dream. Let us hope therefore like 23 scientific and economic Nobel Prize winners recommended some 11-years ago, that if a new conservative government is brought to power, they will create our economy based upon high-tech manufacturing industries and not intangible commodities that have brought us to the dire state of affairs that we find ourselves today. For these so-called ‘innovative financial products’ have been no more than a scam for the majority of people in this country and where livelihoods and wealth will eventually be lost on an unprecedented scale.
Dr. David Hill, Chief Executive of the World Innovation Foundation Charity (WIFC)
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