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The Existential Crisis of Mainstream Economics

Both conservative and liberal economists, in other words, continue to frame economics the way Lionel Robbins defined it, as the allocation of scarce resources among competing ends, which has rightfully earned the discipline the description of being the dismal science. For both schools, efficiency remains the prime consideration. Rather, the economic  problematique  should be, according to Deaton, the way his fellow Cambridge economist Keynes defined it: “how to combine three things: economic efficiency, social justice, and individual liberty.”

England's National Health Service: ‘It's Incredibly Embarassing’

“The surgeon and former Labour health minister found England had spent almost £37bn less than peer countries on health assets and infrastructure since the 2010s. Twenty per cent of the NHS estate predates the founding of the service more than 75 years ago, and some of NUH’s facilities date back to the Victorian era .” In 2022 healthcare expenditure in Germany and France was equivalent to 12.6% and 11.9%, respectively. In 2023, the UK spent 8.9% of its gross domestic product (GDP) on public healthcare.  This is a decrease from 2020 and 2021, when the UK spent 10.1% of its GDP on healthcare.
First part of an interview with Venezuelan sociologist Edgardo Lander He’s professor emeritus at the Central University of Venezuela, and a fellow of the Transnational Institute. He did his Ph.D. at Harvard University, and he is the author of numerous books and research articles on democracy, the myths of industrialization and economic growth, and left-wing movements in Latin America. There are also some interesting comments at the end.
" All you need to gain access to socialism for white people is a good corporate or government job. That fact helps explain how this welfare system took shape sixty years ago, why it was originally (and still overwhelmingly) white, and why white Rust Belt voters showed far more enthusiasm for Donald Trump than for Bernie Sanders. White voters are not interested in democratic socialism. They want to restore their access to a more generous and dignified program of white socialism." Interesting, but equally interesting is the writer's concept of "socialism".