Hey @hopingfornemesis, I’m here long enough to notice how things are deteriorating… but you must take in account UK have been a GLOBAL superpower since a long time ago. The good times you pointed where certainly result of cheap resources from Africa, India, etc. I’m all for low unemployment… As ES points… If you can easily replace your workforce, you care little about them. In fact, as soon as I arrived some college told me… not long ago a cleaning guy could say F*** you! to the general manager and not be fired… Because there was no one to replace you 🙂 But unemployment is still low… the biggest problem is the housing bubble, that put most young people out of the housing market.. I have no solution for that, but since immigrants normally have low jobs, and sterling is blood expensive, I don’t think they are buying all the houses… they simply have to live somewhere… and most paying huge rents. As for Ford’s high wages… he was certainly an excellent businessman but with global markets competition and automotive companies breaking all over… I’m not sure it can work today. I found those articles bellow related to it. In all honesty, most wages are market related.
Ps: I’m not pro globalization… I’m just discussing some points 🙂