Looking back at the last couple of decades and more one of my regular questions about the state and nature of the UK economy is what happened to the UK Mittelstand? That is all the middling, smaller and upcoming companies that are necessary to the future and for a healthy balance in the economy.
This is what happened to so many of them. This longish article on the subject of the extent and purpose of the destructive raiding of ordinary businesses by RBS tells the basic story. But RBS was not alone. Most big banks were doing this as were others in the financial sector to one degree or another.
Essentially, for some forty or so years now the way the State sector has been run and the way the private sector has been governed and regulated has been relentlessly in favour of the limited number of big financial firms close to the politicians and with revolving doors with the civil service.
In the meantime we are being told that two thirds of the jobs that will be available in twenty to thirty year's time have not been created yet.
The way the UK is and is going they will not be created at all.