Nèdeem Elmahjoub's blog

My introduction: To understand the crisis of the National Health Service, the bad handling of the pandemic*, stagnant economy, weak productivity, a state struggling to invest adequately in the green economy, inability to build enough and affordable houses, expensive rent, decades of poor investment in infrastructure by OECD measures, consumption, and consumerism, driven by debt, Labour/Conservatives capitalist values, one has to look at the economic model of the British economy. In reviewing Brett Christophers’s work, Cédric Durant has provided a good overview of such an economic model of accumulation and its ramifications as well as some criticism of Christophers’s take on capitalism in general and what might replace it. ——— *I doubt it that the recently publish report will ever mention the economic model pursued by Britain for more than four decades and how it played a major role in the infrastructure of health and the well-being of the Brits. ***** Few today will need convincing th...

A liberal summary of the political economy of Britain  “Britain has been a  high-inequality, high-poverty nation  for most of the last 200 years, with significant consequences for life chances, social resilience, and economic strength. With the exception of the immediate post-war era, the struggles for share over the last 200 years have been won by the richest and most affluent sections of society, often with the compliance of the state. Under extraction, economic activity becomes detached from new wealth creation, with the boost to profitability and rising corporate surpluses of recent times used to reward executives and investors rather than boost productivity.” *** Unsurprisingly, not a single mention of Britain’s ‘extractive’ capitalism within its functioning as imperialist state, analysing the British economy in isolation of the global economy and global sociology. (e.g. defeat and weakening of social forces/struggle at home and abroad,‘neoliberalism’ as a global for...

Key Facts 1. Low growth: real wages grew by 33 per cent a decade from 1970 to 2007 on average, but this fell to below zero in the 2010s. 2. High inequality: income inequality in the UK was higher than any other large European country in 2018. 3. The toxic combination: low- income households in the UK are 22 per cent poorer than their counterparts in France, and typical household incomes are 9 per cent lower. 4. Stalled progress: 8 million young workers have never worked in an economy with sustained average wage rises, and those born in the early 1980s were almost half as likely to own a home as those born in the early 1950s at age 30. 5. Levelling up: income per person in the richest local authority – Kensington and Chelsea (£52,500) – was over 4 times that of the poorest – Nottingham (£11,700) – in 2019. 6. Brexit Britain: fishing output could shrink by 30 per cent by 2030 as a result of Brexit, but food and beverages manufacturing output could increase by more than 5 per cent. 7. The...

Note: A British nation has never existed. A sharp critique of David Edgerton’s Britain

“ The National Crime Agency has estimated that £90bn of criminal money is being laundered through the UK every year, 4% of the country’s GDP. London has become the global capital of money-laundering and the beating heart of European organised crime. English is now the international underworld’s lingua franca. Crime is an essential part of the British economy, providing hundreds of thousands of jobs, not just for professional criminals – the NCA reckons there are  4,629 organised crime groups  in operation – but for police and prison officers, lawyers and court officials, and a security business that now employs more than half a million people.” Inside the 21st-century British criminal underworld Related   Gangs of London (2020). A British crime drama in 9 episodes

UK budget: coming out of Covid Related An arsonist posing as a firefighter