German children, in 1951, encounter Dwight Eisenhower and Vernon Walters.
Lead letter in the Financial Times:
"Thatcher’s foes predicted that her policies would decimate the middle class.
"Thatcher’s foes predicted that her policies would decimate the middle class.
"They have been vindicated.
"A great deal of the economic prosperity of the Thatcher years was really more because of the North Sea oil bonanza, rather than the Iron Lady’s policies.
"Outside of the US, few nations have ever embraced Thatcher’s slash-and-burn methods...
"A great deal of the economic prosperity of the Thatcher years was really more because of the North Sea oil bonanza, rather than the Iron Lady’s policies.
"Outside of the US, few nations have ever embraced Thatcher’s slash-and-burn methods...
"Germany, for example, still has some of the most powerful unions in the world, as well as a heavily regulated economy.
"And yet Germany today still has a strong middle class and a world-beating high-technology manufacturing base.
"Germany is one of the world’s leading capital surplus nations, while Britain runs massive current account deficits.
"And yet Germany accomplished its enviable economic success by rejecting the Thatcher/Reagan economic model."
Marc McDonald, Fort Worth, TX, US
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