The jury’s been out on the UK summer riots. But now it’s back. And the verdict is grim. The causes are clear, and demonstrable. Most of the rioters were not outside agitators. They were locals. And the places local to them are rotten with deprivation, bad health and unemployment. The findings are laid out for all to see in this pooled report from Guardian writers. [1] Their findings make grim reading for everyone, of whatever political persuasion. But sackcloth and ashes most of all are reserved for those who believe the antique slogans about untrammelled free markets, economic liberalisation, risk takers and free movement of goods and people being best for society.
Because what they forgot to tell us was that there are far more losers than winners in such a set-up. That whole communities would whither away into stagnation and despair. In such circumstances people do not make rational, considered judgements. They just get angry and resentful. Is it so surprising some of them riot? A free market purist would argue that nothing is more capitalist than immigration. Who takes more risks than an immigrant, by tearing up their roots and starting again in a new country? But clearly the natives don’t take such an objective view. Their riots are a sign of something much deeper.
Across the world, a massive reaction to the free movement of people has begun. Naturally, it extends to goods and services, as trade tariffs rise again, and local sourcing is everywhere preferred. Powerful demographic forces are making sure that free movement, markets and migration are coming to an end. The very forces unleashed by liberalism have ensured their own demise.
We at LSS do not believe that communism or faith-based economics are the answer. This is a Whig website, not a socialist one. We think the answer lies in a different model of Capitalism, In the next blog or two we will make suggestions as to what these may look like. These suggestions will be tentative, and humble. But unless we learn to think in different ways, and soon, even the educated will end up joining the others in final despair.
#economics #politics #racism #milton friedman #jm keynes #uk riots #populism
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