While it’s certainly true that an economy does not have to be structured around growth, and we do have to move away from the idea of constant growth to become sustainable, the fact is that the UK is a capitalist economy. When growth of a capitalist economy falters, the working class suffers disproportionately as business owners try to extract surplus value through wage cuts, longer hours, and speedups. Meanwhile, growing unemployment weakens bargaining power of the workers and austerity policies compound the suffering of those in need. So, in practical terms, the working majority in the UK will see a decline in their standard of living as a result of the economy stagnating.
The silver lining here is that as contradictions sharpen, workers will become increasingly aware of their exploitation. Perhaps that might lead a sufficient number of people to start thinking about alternative ways to structure the economy.
At this point Reform is literally the only viable “alternative” to status quo cause the left was decimated. If the economy collapses, we’ll have pogroms and stuff.
The fact that we see the left collapsing across the west while the right continues to grow stronger is very concerning. It also shows that there is a complete lack of any serious alternative on the left.
Because that’s how you make a profit. If profits are too low, nobody invests (or rather they invest in other, more profitable economies) and everything grinds to a halt.
Why is every economy always expected to grow indefinitely? Can’t they just exist?
While it’s certainly true that an economy does not have to be structured around growth, and we do have to move away from the idea of constant growth to become sustainable, the fact is that the UK is a capitalist economy. When growth of a capitalist economy falters, the working class suffers disproportionately as business owners try to extract surplus value through wage cuts, longer hours, and speedups. Meanwhile, growing unemployment weakens bargaining power of the workers and austerity policies compound the suffering of those in need. So, in practical terms, the working majority in the UK will see a decline in their standard of living as a result of the economy stagnating.
The silver lining here is that as contradictions sharpen, workers will become increasingly aware of their exploitation. Perhaps that might lead a sufficient number of people to start thinking about alternative ways to structure the economy.
At this point Reform is literally the only viable “alternative” to status quo cause the left was decimated. If the economy collapses, we’ll have pogroms and stuff.
The fact that we see the left collapsing across the west while the right continues to grow stronger is very concerning. It also shows that there is a complete lack of any serious alternative on the left.
The economist “logic” is that when I charge you $1 for a banana I took off the banana tree, the economy grew $1.
But because my rent is more than $1, we get the UK economy.
Because that’s how you make a profit. If profits are too low, nobody invests (or rather they invest in other, more profitable economies) and everything grinds to a halt.
Sounds like a shitty system, maybe they should consider doing something else.
As a wage worker myself, if I’m not increasing shareholder profits, then what’s even the point, you know? It’s in our nature, we’re servile people.