The fall of the manufacturing industry / ideological Thatcherism

About 20 years ago, I rode an old jeep to a small and medium-sized industrial area in Namyangju, Gyeonggi-do, in search of a job. Looking at the bicycle path swept away in the rainy season, I felt very sorry that the government invested a lot of resources to support the people's leisure activities. At that time, each local government in Korea was investing its budget to develop new cultural tourism facilities and tourism resources such as festivals, and I was convinced that the working environment of small and medium-sized enterprises would have improved a lot. However, I was soon shocked. At that time, Korea realized that support for human activities to enjoy was so fancy that it was close to waste, but support for human activities to work was very harsh. And I understood how Koreans had a mind to find an easy way to make money, such as real estate investment, rather than a desire to work hard and make money.

Finally, the effect of ignoring manufacturing and fair work has come to Korea. No one visits tourism resources or festivals developed by local governments in Korea, the manufacturing industry of SMEs has collapsed, and the public's obsession with real estate has soared. And Britain, a pioneer of democracy and capitalism, is first experiencing the tragedy created by the fall of manufacturing.

To cure the British disease of excessive welfare, British Prime Minister Thatcher implemented a neoliberal policy that aims to make people work hard from cradle to grave. And she neglected the local manufacturing industry because it was not competitive and wanted to grow the economy by developing London as a financial hub and fostering the financial industry. And over the years, the dream came true. London became a financial hub, and the provinces fell. And the British are experiencing a terrible time when the basic value-added industry has collapsed. British are now experiencing a time of poverty from cradle to grave. The manufacturing industry has collapsed in the lower part, with an economy such as a Ponzi scheme in which only the financial industry rotates its money to engage in economic activities in the upper sector.

In Korea, I was very disappointed in the Korean social system, which is harsh on people who work while working as a factory worker. But over the years, I realized that doing a fair job in Korea is proof of life's demise, while driving a neighborhood bus (village bus) that allows direct face-to-face contact with citizens for seven years. And since more than 20 years ago, I have warned a lot about the Korean economy that is flowing like a Ponzi scheme. The UK is now experiencing a lot of difficulties, and Korea is making a lot of efforts for the current government to overcome.

There seems to have been a lot of misunderstandings about capitalism in Britain and Korea. The purpose of capitalism was to make the whole people live well, not to make money and win competition with others by any means.