The U.S. Housing Crisis: Democrat Rot? Republican Rot? Both!

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Critics of UK Prime Minister Margaret Thatcher's international political influence have been howling in the wilderness for 30 years. Is it time for a change?

Conservative rot, or Labour rot in the U.K.? Conservative rot or Liberal rot in Canada? And so on. The question bears repeating with a change of political party names in British-influenced governments around the world.

ALL these major centrist parties have been influenced by the fascinating and magnetic policies of Margaret Thatcher’s conservative U.K. government between 1975 and 1990. These “small government” policies elevated the importance of unfettered free enterprise and diminished the role of “big government.” They have become known as neoliberalism.

This international perspective can help lift discussions to a more practical realm. It is particularly true of the current state of political affairs in the U.S., where Democrats and Republicans snarl, bark and bare their fangs nose to nose on opposite sides of securely (we hope) locked gates.

Thatcherite policies have seduced virtually all aforementioned centre-right and centre-left political parties across a range of parliamentary democracies. America just happened to have a Republican Party coincident with Thatcher’s conservatives1. Get over yourselves, Republicans and Democrats: that coincidence did not make neoliberalism a solely Republican policy.

It is the small-fry further-leftist voices howling ineffectually in the wilderness that may have a more meaningful perspective — the Canadian New Democratic Party, for example, which is happy to lump dominating neoliberals, centre-left and centre-right, into the same bag.

Thus, the following article can be more usefully read, not from the perspective suggested by its title, but as one contrasting centrist neoliberal “small government” polices with contrasting, often historic, “big government” policies. NOT Republican versus Democratic polices. Read More in CityWatch: The Housing Crisis Reveals How Much the Democrats Have Adopted Republican Policies


  1. Thatcher did find a ready sympathizer in Ronald Reagan, U.S. President from 1981 to 1989.

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