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Why we should all be talking about the cost-of-living crisis
Energy price rises and profiteering threaten the quality of life for millions as the result of clear injustice and inequality. The labour movement must point a way out of this debacle, writes GMB leader GARY SMITH

IT WASN’T meant to be this way. The promise of monetarism was always the creation of wealth. It stood for an end to inflation; and the fashioning of a truly free market, without any recourse to government, acting as the generator of exponential surpluses and the guarantor of rising living standards. 

The privatisation of state assets — literally, the former commonly held wealth of the nation — was championed as removing class barriers and breathing life into a new share-owning democracy, whereby individual citizens could benefit from, and participate in, the acquisition and growth of capital.

The reality was very different. We see its savage harvest in growing inequality: in children going to school hungry; in the creation of an underclass; the gutting of the professions; and the deskilling of the industrial workforce. 

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