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https://web.archive.org/web/20220611231105/https://www.economist.com/leaders/2022/06/09/low-economic-growth-is-a-slow-burning-crisis-for-britain https://web.arc

https://web.archive.org/web/20220611231105/https://www.economist.com/leaders/2022/06/09/low-economic-growth-is-a-slow-burning-crisis-for-britain https://web.archive.org/web/20220611231105/https://www.econo... What's the structural problem at play here? Brexit is definitely isolating, which promotes "comparative disadvantage", i.e. doing things domestically that are more efficient to achieve through trade. Maybe there are demographic problems? Too many elderly, not enough youth and skilled labor? They allude to democratic inefficiencies, i.e. voting blocs that receive more than they pay, creating poor allocation and disincentive. But all of the above don't seem to be solvable. UK won't re-enter the EU, demographics can only be tweaked by immigration, and voting blocs are part of democracy. So what does that leave in terms of solutions?

formerkrogemp 4y ago
> So what does that leave in terms of solutions? https://youtu.be/ZuXzvjBYW8A https://youtu.be/ZuXzvjBYW8A
- deleted 4y ago
  [deleted]
- burlesona 4y ago
  For others who won’t know what this video link is, it leads to a pretty good talk about the generational wealth gap in Britain and potential solutions to close it. I found it very informative. Thanks for sharing!
  - formerkrogemp 4y ago
    Thanks for providing an overview that I neglected to provide! I found this video on Y-Combinator News. I thought it worthwhile to share as I've learned from it as well.
WalterBright 4y ago
The likely suspect - too much voting themselves money out of the treasury. The same problem the US is facing.
- selimthegrim 4y ago
  With Medicaid and the child tax credit being clawed back because of the pandemic, I don’t see how that’s true.
  - WalterBright 4y ago
    Where do you think all that deficit spending is going?
    - selimthegrim 4y ago
      I should say the “end” of the pandemic
- mhh__ 4y ago
  Given that the government we've had for the last 12 years have been privatizing and cutting back large amounts of the state (e.g. the criminal justice system is now falling apart by many accounts) that sounds rather like a hammer-see-nail outlook. The bedrock of the nation is really not in a good place, unless you aim to merely be better than the Italians or Spanish, there has been a large increase in the use of food banks and that kind of thing. What we did have during the pandemic was blatant corruption wrt to the purchasing of PPE and building test and trace organizations. Billions lost, conveniently in large part to companies that don't really exist. Governments should not be in power this long, they've run out of honest people.
  - WalterBright 4y ago
    If the state is being cut back by large amounts, where is all the enormous increase in spending going?
Proven 4y ago
puranjay 4y ago
The one thing common across all low growth countries is bad demographics. Doesn’t matter whether you’re Japan or Portugal - demographics seems to doom any notion of “growth”.

formerkrogemp 4y ago

> So what does that leave in terms of solutions? https://youtu.be/ZuXzvjBYW8A https://youtu.be/ZuXzvjBYW8A

deleted 4y ago
[deleted]
burlesona 4y ago
For others who won’t know what this video link is, it leads to a pretty good talk about the generational wealth gap in Britain and potential solutions to close it. I found it very informative. Thanks for sharing!
- formerkrogemp 4y ago
  Thanks for providing an overview that I neglected to provide! I found this video on Y-Combinator News. I thought it worthwhile to share as I've learned from it as well.

WalterBright 4y ago

The likely suspect - too much voting themselves money out of the treasury. The same problem the US is facing.

selimthegrim 4y ago
With Medicaid and the child tax credit being clawed back because of the pandemic, I don’t see how that’s true.
- WalterBright 4y ago
  Where do you think all that deficit spending is going?
  - selimthegrim 4y ago
    I should say the “end” of the pandemic
mhh__ 4y ago
Given that the government we've had for the last 12 years have been privatizing and cutting back large amounts of the state (e.g. the criminal justice system is now falling apart by many accounts) that sounds rather like a hammer-see-nail outlook. The bedrock of the nation is really not in a good place, unless you aim to merely be better than the Italians or Spanish, there has been a large increase in the use of food banks and that kind of thing. What we did have during the pandemic was blatant corruption wrt to the purchasing of PPE and building test and trace organizations. Billions lost, conveniently in large part to companies that don't really exist. Governments should not be in power this long, they've run out of honest people.
- WalterBright 4y ago
  If the state is being cut back by large amounts, where is all the enormous increase in spending going?

Proven 4y ago

puranjay 4y ago

The one thing common across all low growth countries is bad demographics. Doesn’t matter whether you’re Japan or Portugal - demographics seems to doom any notion of “growth”.