The collapse of socialist Europe as the educated flee.

care to take inflation out and track the number on a chart.
I would be interested to see if spending per capital started to go down during the thatcher years... which set the stage for Britains financial rebound... and then I would not be surprised if it started going back up more recently.


Quote from Ricter:

This is what I came up with for "in the '60s when their socialism was burdening their economy":

1960 U.K. total public spending per capita, in £2005, = 2,918.6
2010 U.K. total public spending per capita, in £2005, = 10, 329.8
More...
 
Quote from jem:

care to take inflation out and track the number on a chart.
I would be interested to see if spending per capital started to go down during the thatcher years... which set the stage for Britains financial rebound... and then I would not be surprised if it started going back up more recently.
More...
It is inflation adjusted: "£2005".
 
if that is accurate... then I guess it shows govt gets to spend more when it lowers taxes significantly.

Quote from Ricter:

It is inflation adjusted: "£2005".
More...
 
The chart of real TME (which is the UK term for broad public sector expenditure) is attached.

In general, it's a little difficult to generalize, as the ratio on the chart is a function of both the numerator and the denominator. One thing that's somewhat clear is that the Labour-inspired increase in public spending between 2000 and 2006 is the structural, rather than the cyclical sort (thanks to the dream team of Tony & Gordo).
 

Attachments

Quote from jem:

if that is accurate... then I guess it shows govt gets to spend more when it lowers taxes significantly.
More...
Here's a chart for spending and receipts as a percent of GDP:

(Lemme see if I can embed...)

<iframe src="//charts-datawrapper.s3.amazonaws.com/tU51u/index.html" frameborder="0" allowtransparency="true" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen width="460" height="500"></iframe>

U.K. GDP since 1960:

<img src="http://www.tradingeconomics.com/charts/united-kingdom-gdp.png?s=wgdpuk&d1=19600101&d2=20131231">

Per capita GDP since 1960:

<img src="http://www.tradingeconomics.com/charts/united-kingdom-gdp-per-capita.png?s=gbrnygdppcapkd&d1=19600101&d2=20131231">


Hmm, what's this... ?


<img src="http://www.newworldeconomics.com/archives/2011/091111_files/usdsgbp1971.png">
 
first of all thank you for posting those charts.

2nd... my thesis would be

It seems to me a lot of that big runup was caused by thatcher and her dismantling of socialism and it economy crushing policies.
 
Quote from jem:

first of all thank you for posting those charts.

2nd... my thesis would be

It seems to me a lot of that big runup was caused by thatcher and her dismantling of socialism and it economy crushing policies.
More...
GL getting the ET leftists to agree with you on that one.
 
The important thing is that we keep looking at what is happening to france.

France's socialist big govt porcs are turning their country into PIGGs.


Quote from Lucrum:

GL getting the ET leftists to agree with you on that one.
More...
 
Quote from jem:

first of all thank you for posting those charts.

2nd... my thesis would be

It seems to me a lot of that big runup was caused by thatcher and her dismantling of socialism and it economy crushing policies.
More...
Time Series Chart of UK Public Spending, per capita, in £2005, 1970 to 2015:

<img src="http://www.ukpublicspending.co.uk/ukgs_line.php?title=Total%20Spending&year=1970_2015&sname=&units=d&bar=1&stack=1&size=m&spending0=4324.98_4417.60_4445.51_4778.00_5335.78_5512.86_5421.84_5042.61_5250.10_5420.02_5525.14_5538.84_5678.49_5567.92_5625.38_5697.45_5779.05_5682.38_5628.25_5424.16_5612.07_5714.65_5944.84_6336.00_6502.25_6720.95_6810.26_6782.23_6765.57_6914.02_7019.61_7411.69_7637.80_8018.56_8418.27_8851.92_9075.07_9259.26_9459.72_10071.97_10329.77_10280.51_10085.17_9545.17_9898.14_9791.35&legend=&source=a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_a_e_g_g">

I'm still not seeing the Thatcher miracle, or even a "dismantling" of socialism.
 
Perhaps you were referring to Thatcher's war on labor unions (but not management unions):

<img src="http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2011/11/28/1322494306532/Top-income-and-union-memb-001.jpg">

Big change there.

But also a big change to income equality:

<img src="http://upload.wikimedia.org/wikipedia/commons/thumb/0/01/Gini_since_WWII.svg/800px-Gini_since_WWII.svg.png">

But who cares about inequality if a "rising tide lifts all boats", right?

<img src="http://www.tutor2u.net/blog/files/inequality_01.jpg">
 
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