A slippery slope
What the UK economy does with its money has changed radically since the 1950s, and not for the better.
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A slippery slope
What the UK economy does with its money has changed radically since the 1950s, and not for the better.
CLICK HERE
A slippery slope
What the UK economy does with its money has changed radically since the 1950s, and not for the better.
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What is “real wealth creation”?
Real wealth creation produces new goods and services, like food, phones, clothes, healthcare, education and haircuts, that allow us to survive or to improve the quality of our lives. The more of this work we have in the economy, the wealthier, collectively, we feel.
What is transactional activity?
Transactional activity is work like financial services, trading, and the receiving of rent, that moves wealth about through buying and selling without producing anything new. Having more of this work in the economy does not make us collectively wealthier.
Why does this change matter?
Real wealth producers and final consumers pay for this transactional work through receiving less for their work or paying more for their goods. So money is being creamed off by transactional work, and is not available to fund real, useful production. And all the talented people doing transactional work are not available to drive real wealth creation in the economy.
How did we get here and where will it take us?
Neoliberal reforms since the 1980s have prioritised the value of money transactions over real wealth production. So the UK is producing less real wealth than it consumes, while racking up debts that suck money out of the productive economy into the hands of wealthy investors, many of them overseas. This is already making us poorer, as we all experience in our public services and many of us in our personal circumstances.
What is “real wealth creation”?
Real wealth creation produces new goods and services, like food, phones, clothes, healthcare, education and haircuts, that allow us to survive or to improve the quality of our lives. The more of this work we have in the economy, the wealthier, collectively, we feel.
What is transactional activity?
Transactional activity is work like financial services, trading, and the receiving of rent, that moves wealth about through buying and selling without producing anything new. Having more of this work in the economy does not make us collectively wealthier.
Why does this change matter?
Real wealth producers and final consumers pay for this transactional work through receiving less for their work or paying more for their goods. So money is being creamed off by transactional work, and is not available to fund real, useful production. And all the talented people doing transactional work are not available to drive real wealth creation in the economy.
How did we get here and where will it take us?
Neoliberal reforms since the 1980s have prioritised the value of money transactions over real wealth production. So the UK is producing less real wealth than it consumes, while racking up debts that suck money out of the productive economy into the hands of wealthy investors, many of them overseas. This is already making us poorer, as we all experience in our public services and many of us in our personal circumstances.
What is “real wealth creation”?
Real wealth creation produces new goods and services, like food, phones, clothes, healthcare, education and haircuts, that allow us to survive or to improve the quality of our lives. The more of this work we have in the economy, the wealthier, collectively, we feel.
What is transactional activity?
Transactional activity is work like financial services, trading, and the receiving of rent, that moves wealth about through buying and selling without producing anything new. Having more of this work in the economy does not make us collectively wealthier.
Why does this change matter?
Real wealth producers and final consumers pay for this transactional work through receiving less for their work or paying more for their goods. So money is being creamed off by transactional work, and is not available to fund real, useful production. And all the talented people doing transactional work are not available to drive real wealth creation in the economy.
How did we get here and where will it take us?
Neoliberal reforms since the 1980s have prioritised the value of money transactions over real wealth production. So the UK is producing less real wealth than it consumes, while racking up debts that suck money out of the productive economy into the hands of wealthy investors, many of them overseas. This is already making us poorer, as we all experience in our public services and many of us in our personal circumstances.