A stark analysis published in the Guardian's letters section argues that the profound societal damage attributed to corporate greed in the United States has an exact parallel in the United Kingdom. The correspondence, responding to an article by former US Labour Secretary Robert Reich, contends that Britain underwent a similar transformation, with the policies of Margaret Thatcher producing consequences mirroring those of Ronald Reagan's America.
The British Parallel to an American Nightmare
Robert Reich's recent commentary detailed how the United States had "gone off the rails" over the last 40 years, starting with Ronald Reagan. He listed deregulation, privatisation, union-busting, and soaring inequality as hallmarks of this decline, where corporate profits and shareholder value eclipsed the common good.
Writing from Bristol, correspondent Tony Rowlands points out that Reich's account is deeply familiar from a British perspective. Rowlands recalls a post-war Britain with a functioning NHS, a vibrant industrial base, and housing that was affordable for ordinary wage earners. He asserts that this changed fundamentally with the rise of Margaret Thatcher's political "juggernaut" in the 1980s.
"If you substitute Margaret Thatcher for Ronald Reagan and the City of London for Wall Street, [Reich] summarises precisely what has happened here," writes Kate Purcell from Coventry, echoing the central thesis.
From Industry to Inequality: The Lasting Impact
The letters describe a deliberate shift in the UK's economic foundation under Thatcher. The assault on trade unions, the sweeping deregulation of finance, and the deliberate replacement of manufacturing with a service and finance-led economy are cited as pivotal moments. The result, they argue, is a society now characterised by:
- Brutal wealth inequality.
- The normalisation of food banks and zero-hours contracts.
- Declining high streets and public services.
- An economy over-reliant on shopping, house prices, and stock market performance.
Purcell adds a further dimension of concern: the ownership of key UK services and resources by overseas organisations with a primary focus on profit, potentially at the expense of national wellbeing. She cites the controversial involvement of the US firm Palantir in the NHS federated data platform as a prime example.
A Call for Action, Not Just Protest
While Reich sees protest as a response to the acceleration of these trends under figures like Donald Trump, the UK correspondents call for more decisive domestic action. Rowlands warns that "the odd nudge towards Whitehall will not cut the mustard" and insists that British society must collectively force the pace of change.
The letters, responding to the original article published on 29 January, serve as a potent reminder that the ideological shifts of the 1980s, championed by Reagan and Thatcher, continue to define contemporary economic and social challenges on both sides of the Atlantic. They frame current issues not as inevitable economic outcomes, but as the direct consequences of specific political choices made decades ago.
