Capitalism has been at the heart of the global economic thinking. Liberalism of services, financial markets, goods and labour. No other system has produced results which have massively increased incomes. Various flaws with the current global economy, focusing pure growth and lack of resilience. Just in time supply lines are cheap, efficient but don’t have much resilience. Result cheaper goods, labour becoming cheaper but assets have become inflated. Globalisation has been at heart of economic thinking for decades now. Rapid expansion of financial markets with more traditional trade, combined with services. Light touch on financial market regulation, created risky assets. Opening up local goods to international markets. Geography plays major part in trade, many won’t feel the benefits directly. Trading over any distance requires capital, most businesses are local.

I don’t think destroying capitalism is the answer but reforming it. At the heart of that reform, core concept of resilience. Support for the labour market should be short and longer term focused. Something needs to be done about assets prices. Nations should work together against common threats, covid or climate change have exposed how important that is. We can’t afford to be inward looking. Global food supply chains have been flexible enough during covid but poorer nations have suffered. Resilience should be part of the conversation going forward. All of this requires long term policies, politics should be honest. 

Society as whole needs to ask some pretty difficult questions, may not like the answers. Covid pandemic has crippled my trust in the UK government. I don’t feel safe returning back to normal. Solve the health crisis, bulk of the economic problems disappear. Have big concerns no real long term plan on tackling any problems. Only a desire to blame others. Future is looking rather rubbish. I can only see dark clouds ahead and giant cliff edge caused by brexit getting closer. Maybe this the government we deserve as a society.