England and Wales represent two very different, indeed incompatible, approaches to health care. In the former, health care has come under increasing threat from the predatory forces of privatization. In Wales, however, an explicit effort has been made to defend socialist values and formulate them for the twenty-first century, defending and expanding a system that puts the health and well-being of its citizens over profit.… | more…
During the past decade, persistent excess productive capacity, at levels exceeding at times 25 percent, has blighted the British economy, along with rates of unemployment not experienced for two decades, with the result that a substantial proportion of the economy’s productive resources remain underutilized. Orthodox economic theory often ascribes such phenomena to a lack of capital for investment. However, in the same period, interest rates have been historically low, and the UK corporate sector has accumulated increasing reserves of surplus capital. Clearly, there has been no shortage of capital for investment. The failure to invest stems not from the supply of capital, but instead from the paucity of investment opportunities, suggesting that British capitalism is mired in stagnation.… | more…
