The answer is that Britain is an astonishingly rich country.
Oh woes is us, horrors, terrors, taxes are up, incomes are down and the entire economy is laid waste.
Yet peeps are still out buying iPads and DS\’s.
How can this be?
Beause Peter, and I know that this will come as something of a surprise, Britain is an extremely rich nation by any current global, or any historical, standard.
Average GDP per capita for the world is currently about £5,000 a year. We\’re at four times that. We\’re at twice average GDP per capita in 1975 for the UK. Ten times what the average was in the UK in 1845. We\’re up 33% just in the years since Maggie let office.
The reason that, even in the current economic \”hard times\”, there are millions who can go out and buy gadgets and gewgaws is that by the general standards of humanity this country and the people in it are howlingly, stinkingly rich.
This capitalism/markets thing. Good, innit?