4 ms·

I think OP means all of the idiotic decisions, from Brexit to all of the delusional politics that have achieved no actual economical advantages to the UK ever s

I think OP means all of the idiotic decisions, from Brexit to all of the delusional politics that have achieved no actual economical advantages to the UK ever since.

HL33tibCe7 4y ago
Yes, I think those have contributed, but I think they play a minor role compared with some fundamental problems with both the global economy (Ukraine, most obviously) and the UK economy (low productivity).
- bluepizza 4y ago
  You are correct. But it's not unfair to expect that one of the richest and most developed countries in the world would find ways around those issues.
- oxfordmale 4y ago
  The whole world is going through a down turn, however, the UK will likely impacted harder and longer. We gave up a trade deal with a very large trading block, the EU, and haven't been able to make up for this by having trade deals with the USA, China or India so far. The few wins, trade deals with New Zealand and Australia, are mostly symbolic as the impact on the GDP is expected to be small. A trade deal with China looks unlikely given the current political climate. Trade deals with both the USA and India are fraught with political risk. The USA wants to be able to export GM food to the UK, out pricing UK farmers that were reliant on EU subsidies until recently. India is after a deal on immigration and this is even more contentious. Trade deals will eventually be signed, however, almost certainly won't help to shorten or lessen the impact of the current recession.
- kcartlidge 4y ago
  > the UK economy (low productivity) (Not directing this at you, as I have no knowledge of what you consider low productivity to mean.) What is often missed in the talk of low productivity is that the general assumption on hearing the phrase is that the problem is a lazy and unproductive workforce, which leads to the workers being an obvious target of blame. In economics terms MFP is the more important view of productivity, and it's the amount of output that can be generated for a given set of inputs including not just labour but also capital/investment. And in general terms the largest issue here is not lazy workers but extractive management and asset-owners who take out the profits (as dividends, salaries, share buy-backs, etc) rather than reinvest them in the companies and the infrastructure. Without that investment the organisation remains below par for productivity as the inputs remain stagnant. And that understanding shifts both the blame (and the required direction of travel to tackle the issue) to where it should be focused. Not pay, workers rights, etc, but addressing the inequality that allows that extraction which is the real cause of the productivity gap.

I think OP means all of the idiotic decisions, from Brexit to all of the delusional politics that have achieved no actual economical advantages to the UK ever since.

HL33tibCe7 4y ago

Yes, I think those have contributed, but I think they play a minor role compared with some fundamental problems with both the global economy (Ukraine, most obviously) and the UK economy (low productivity).

bluepizza 4y ago
You are correct. But it's not unfair to expect that one of the richest and most developed countries in the world would find ways around those issues.
oxfordmale 4y ago
The whole world is going through a down turn, however, the UK will likely impacted harder and longer. We gave up a trade deal with a very large trading block, the EU, and haven't been able to make up for this by having trade deals with the USA, China or India so far. The few wins, trade deals with New Zealand and Australia, are mostly symbolic as the impact on the GDP is expected to be small. A trade deal with China looks unlikely given the current political climate. Trade deals with both the USA and India are fraught with political risk. The USA wants to be able to export GM food to the UK, out pricing UK farmers that were reliant on EU subsidies until recently. India is after a deal on immigration and this is even more contentious. Trade deals will eventually be signed, however, almost certainly won't help to shorten or lessen the impact of the current recession.
kcartlidge 4y ago
> the UK economy (low productivity) (Not directing this at you, as I have no knowledge of what you consider low productivity to mean.) What is often missed in the talk of low productivity is that the general assumption on hearing the phrase is that the problem is a lazy and unproductive workforce, which leads to the workers being an obvious target of blame. In economics terms MFP is the more important view of productivity, and it's the amount of output that can be generated for a given set of inputs including not just labour but also capital/investment. And in general terms the largest issue here is not lazy workers but extractive management and asset-owners who take out the profits (as dividends, salaries, share buy-backs, etc) rather than reinvest them in the companies and the infrastructure. Without that investment the organisation remains below par for productivity as the inputs remain stagnant. And that understanding shifts both the blame (and the required direction of travel to tackle the issue) to where it should be focused. Not pay, workers rights, etc, but addressing the inequality that allows that extraction which is the real cause of the productivity gap.