How much of the "Service Industry" hype came from politicians, and how much from MBAs?
My company decided if we eliminated New Product Development, we could save (make) Millions.
Of course, in five years, we had nothing to sell. But many quarters looked really good, so the bonuses flowed for the Chosen.
Over here, it was neither. Thatcher privatised and closed down profitable pits with high grade coal, to (a) break the unions and (b) turn us into a service economy.
I live in a village which was a thriving mining village for over 120 years; it still sits on top of TWO rich seams - Blackbed and Beeston - and it's far from played out.
But Thatcher didn't just close the pit; under her watch the shaft was filled in and the buildings flattened.
Some mines were privatised, but this one along with many others, was mothballed in such a way as to prevent it being economical to reopen. If the price of coal triples on the world market then it might be economical to dig it out again, but until then we're sitting on a resource that could rejuvenate the economy but can't use it simply because Thatcher decided the future lay in banking and information technology.
This doesn't affect me personally because I work in IT, but when you live in a village where two thirds of the population have a four or even five generation tie to the mining industry then it's still a very bitter topic for discussion.
Bearing in mind, these people are still for the most part conservative and they did vote in a conservative MP in the election this year... the only person they loathe more than Thatcher, is Arthur Scargill.