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FT.com – Manufacturing fades under Labour

The impact of a poor understanding of the role of interest rates in coordinating the economy through time and of the capital structure of production: The importance of manufacturing to the economy declined more rapidly under Labour administrations since 1997 than it did during the Margaret Thatcher era, according to a Financial Times study. The big winners in the same period were bankers, estate agents and public sector workers, whose sectors’ share of output increased under the Labour governments of […]

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