Want to know why most people don't think the UK economy is working for them?

That real household income has been stagnant for a decade might have something to do with it...

(And don't forget these real levels have taken inflation into account *but* such adjustment doesn't include house prices which continue to climb as a multiple of wages, making one aspect of economic life seem less & less affordable).

This is why Zack Polanski's message on the economy has traction!

#economics #politics

@ChrisMayLA6

Unfortunately for the Greens, speaking bluntly about the physical underpinnings of the economy is not a vote winner. So theyโ€™re playing a modestly less energy blind version of the game the other parties are.

I vote for them nonetheless.

Itโ€™s only because the other parties are firmly in 20th Century fantasy land that there is so much space for the Green Party to swim in

@urlyman

Yes, but focussing on the effects of the dire impact of the problems in the economy may well be a way to square that circle.... I think Mr Polanski is going to surprise a lot of people in his deft handing of the issue.

Whether he can make a better job of managing the UK's economy given the constraints he will encounter is another issue; but like you I want to give him the chance!

@ChrisMayLA6 same. Iโ€™m not knocking him. The adjacent possible is always the game available
@ChrisMayLA6 question, can wage increases and inflation exist in a degrowth economy? Or are they both dependent on economic growth?
@morfil @ChrisMayLA6 an alternative would be to reduce the cost of living - reduce housing and energy costs certainly, and arguably food - and you need wage inflation a lot less.
@ChrisMayLA6 Neoliberalism made everything into an asset economy. We donโ€™t produce stuff, we collect rent by owning stuff others use, and those rents fund campaigns of politicians who are expected to make value of stuff go up.

@gimulnautti

Yes, the economy has become an economy of rentiers that's for sure....

@ChrisMayLA6 @gimulnautti From a nation of shopkeepers to a nation of landlords - or perhaps always a nation of masters and serfs, with a different fur coat through the ages?

@ChrisMayLA6 house prices are inflation too. ...and this will NEVER be fixed until we all adopt bitcoin and end the printer class...

...we can ignore this, but it just means picking the side of the epstein fraudster class ๐Ÿคทโ€โ™€๏ธ...why would anyone do that?

@serapath

I'm not sure a currency (means of exchange) as volatile in value as Bitcoin would be a good resolution to inflation.... indeed one might argue that its defining characteristic is inflation, given that most people see to buy it on the understanding g its nominal value will rise.

@ChrisMayLA6 it will rise forever. and every time the economy grows everyone will get a dividend in the form of deflating prices- why? because if the economy grows at all there will always be more goods and services but never more bitcoin