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"Anglo Disease" doesn't refer to neo-liberalism. It refers to the very English attitude that since the City generates fantastic profit it's a good idea to encourage it to cannibalize the entire UK economy, with the resulting loss of economic resilience when the City goes through bad times. This is by analogy with the "Dutch disease" which referred to the Oil and Gas industry in the Netherlands sucking the life away from the other industrial sectors, leaving the economy unprepared for when inevitably the Oil and Gas sector stopped growing as fast or started declining.

Then, "Manchester Capitalism" wasn't invented in America.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes

by Carrie (migeru at eurotrib dot com) on Mon Apr 7th, 2008 at 10:43:28 AM EST
[ Parent ]
Isn't Manchester Capitalism the basis of the shareholder society, which can be regulated or not, but isn't an inherent evil of itself.

Everything you describe as fetures of Anglo-disease are exactly my understanding of financial neo-liberalism. It was certainly all done to Wall St long before it happened here. I'm not attempting to exonerate the City from the consequences of their greed, but simply saying "not invented here".

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 7th, 2008 at 11:39:09 AM EST
[ Parent ]
Ever heard of the South Sea Bubble?

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Mon Apr 7th, 2008 at 11:45:32 AM EST
[ Parent ]
Good grief, what on earth has that to do with the City as it existed before Thatcher ?

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 7th, 2008 at 01:40:31 PM EST
[ Parent ]
And I refer you to your own comment where you make my very argument

keep to the Fen Causeway
by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 7th, 2008 at 11:41:02 AM EST
[ Parent ]
How is Wall Street not "Anglo" within the US. Maybe "the Angloamerican disease" would be a better name?

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Mon Apr 7th, 2008 at 11:49:38 AM EST
[ Parent ]
I think there was a little thing called the Declaration of Independence that settled how "anglo-" Americans are.

There's every kind of American imaginable, except an Anglo-American. It's the one impossible construct.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 7th, 2008 at 01:43:56 PM EST
[ Parent ]
Anglo - Wikipedia, the free encyclopedia

In the United States, and particularly in the Southwest, Anglo, short for Anglo-American, is used to refer to non-Hispanic White Americans or non-Hispanic European Americans, most of whom speak the English language but are not necessarily of English descent. The term has been regularly used by mainstream media such as the Los Angeles Times. In the 2000 Census, 24.5 million Americans (8.7%) reported English ancestry.[4] The figure is self-reported and is likely far higher in reality since partial English ancestry is common among Americans who, accordingly, tend to emphasize the more distinctive aspects of their heritage to census takers[citation needed].

Anglo can simply refer to English-speaking population or media. The term is also used as a technically incorrect synonym for "White". Non-hispanic Whites constitute 66% of the total population. Also, Anglo is usually found in contrast with Jewish, even though most non-Anglo people do not see this contrast.[citation needed]

Most non-Hispanics in the United States who speak English but are not of English ancestry generally do not identify themselves as "Anglo" and some of them find the term offensive. For instance, some Cajuns in south Louisiana use the term to refer to area whites who do not have Francophone backgrounds. Irish Americans, the second largest ethnic goup in the United States following German-Americans, also often take umbrage at being called "Anglo."[5] Additionally, other white ethnic groups who do not identify as having English ancestry such as Italian Americans, Greek Americans, Jewish Americans, Russian Americans, Polish Americans, and Middle Eastern Americans tend not to identify themselves as Anglo. Americans of English descent may also be offended at being labeled "Anglo" (as opposed to Anglo-American or Anglo-Saxon).

What does the A in WASP stand for? Where is New England?

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes
by Carrie (migeru at eurotrib dot com) on Mon Apr 7th, 2008 at 02:01:15 PM EST
[ Parent ]
I have always believed WASP to be a reference to being US aristocratic without acknowledging the forbidden class aspect. Anyway, it's anglo-saxon, ie northern european, not anglo as in english.

I think of it as a badge of American elitism, of a shared N E American culture, not of an identity that relies on a "home" country. I don't think there's any american who refers to themselves as an anglo- who does it to remind everybody they don't take the DoI seriously.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Mon Apr 7th, 2008 at 02:39:16 PM EST
[ Parent ]
... as Anglophiles, and when they do, it is far more about The City than about Jane Austen. "Anglo" as a self-identifier is in areas with extremely large Latino communities, not in Wall Street.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Mon Apr 7th, 2008 at 02:52:39 PM EST
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