Flinging open the doors of change
In a land as wedded to tradition as the UK, it is hardly surprising
that its principal securities market, the London Stock Exchange, has
seldom distinguished itself as a crucible for new ideas and innovation.
From its earliest coffee house days in the 18th century, the exchange
has always managed to exude an aura of comfortable exclusivity and its
popular image has been one of easy money and the right social
connections.
While continuity against such a background makes for political
stability and confidence, it also breeds complacency and a resistance to
change. In the boom years of the post-war era, few countries have
wrestled as unsuccessfully as the UK with the divergent forces of
socioeconomic change and traditional values. The British have been
viewed abroad by trading partners and competitors alike as clubby,
restrictiove and introverted.
Since the election in 1979...
