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Old 6th Aug 2007, 21:09
  #63 (permalink)  
Re-Heat
 
Join Date: Dec 1999
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With greatest respect to your opinion, that is the Daily Mail version of events - the economic reality of the UK is far removed from that: consider the difference between £6 per hour in a mining business that making no overall profit, or £6 per hour in a call centre that is profitable.

The UK is far wealthier as a result of those changes, as government are inefficient allocators of capital - what this means is that the opinions of many people in a market are far better at making decisions in aggregate the the opinion of a small, closed group of people in government running a state enterprise. As we all know, the more opinions the better, and this is ONLY achieved in a market.

Alitalia, permitted to operate as such, could very well be sustained into the future - similar to BA, Lufthansa, Iberia and others. Inefficiently supported by the state will only result in taxpayers' cash being allocated to unprofitable enterprises to the detriment of the whole economy.

Needless to say, if you don't want to believe the above, you won't, but then again my opinion as an economist is supported by the vast majority of other economists and financial professionals.
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