Bush’s, Thatcher’s, Blair’s capitalism bad for mental health


This video is called Naomi Klein: Disaster Capitalism.

From British daily The Guardian:

Selfish capitalism is bad for our mental health

The growth in relative materialism over the past 20 years is taking a heavy toll on the wellbeing of English-speaking nations

Oliver James

Thursday January 3, 2008

By far the most significant consequence of “selfish capitalism” (Thatch/Blatcherism) has been a startling increase in the incidence of mental illness in both children and adults since the 1970s. As I report in my book, The Selfish Capitalist – Origins of Affluenza, World Health Organisation and nationally representative studies in the United States, Britain and Australia, reveal that it almost doubled between the early 80s and the turn of the century. These increases are very unlikely to be due to greater preparedness to acknowledge distress – the psychobabbling therapy culture was already established.

Add to this the astonishing fact that citizens of Selfish Capitalist, English-speaking nations (which tend to be one and the same) are twice as likely to suffer mental illness as those from mainland western Europe, which is largely Unselfish Capitalist in its political economy. An average 23% of Americans, Britons, Australians, New Zealanders and Canadians suffered in the last 12 months, but only 11.5% of Germans, Italians, French, Belgians, Spaniards and Dutch. The message could not be clearer. Selfish Capitalism, much more than genes, is extremely bad for your mental health. But why is it so toxic?

Readers of this newspaper will need little reminding that Selfish Capitalism has massively increased the wealth of the wealthy, robbing the average earner to give to the rich. There was no “trickle-down effect” after all.

The real wage of the average English-speaking person has remained the same – or, in the case of the US, decreased – since the 1970s. By more than halving the taxes of the richest and transferring the burden to the general population, Margaret Thatcher reinstated the rich’s capital wealth after three postwar decades in which they had steadily become poorer.

Although I risk you glazing over at these statistics, it’s worth remembering that the top 1% of British earners have doubled their share of the national income since 1982, from 6.5% to 13%, FTSE 100 chief executives now earning 133 times more than the average wage (against 20 times in 1980); and under Brown‘s chancellorship the richest 0.3% nobbled over half of all liquid assets (cash, instantly accessible income), increasing their share by 79% during the last five years.

See also here.

Broke Britain: millions face struggle to stay afloat as financial crisis hits home: here.

US poor and uninsured suffer substantially worse health outcomes: here.

British Conservative and New Labour policies: here.

Play: The Death Of Margaret Thatcher: here.

1 thought on “Bush’s, Thatcher’s, Blair’s capitalism bad for mental health

  1. Pingback: Margaret Thatcher whitewashed on film | Dear Kitty. Some blog

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