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HARSH US CAPITALISM COULD HIT THE UK

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A leading City economist warns that fund managers will be rewarded with lucrative share options while workers' pay ...
A leading City economist warns that fund managers will be rewarded with lucrative share options while workers' pay is held down under a harsher, American style capitalism.

Reported in the Independent, (p23), Douglas McWilliams says that US share prices and GDP have blossomed as a result of an explosion in mutual funds fuelled by 'massive' bonuses for fund managers.

However, it has been achieved at the cost of wages, which have risen at rates below consumer prices.

Mr McWilliams predicted 'pressure to extend it to Europe and to the UK in particular'.
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