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Stewart S
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I don't think that austerity is anything to do with this. It is just incompetence plain and simple. No serious organisation would risk leaving itself open to obvious cyber security threats or fail to have an adequate disaster recovery solution. We don't know to what extent these risks were understood internally and whether this was adequately communicated. Or perhaps the IT function did not have sufficient clout within the hierarchy. Leaving yourself open to attack should not have been an option even if this meant reducing some medical procedures. We can agree that the NHS is underfunded but who is to say that an extra few billion would have solved the IT problems (until now perhaps). It doesn't matter how much you spend on the NHS , the demand is insatiable and there will always be pressure to skimp on basics to meet the targets.
Others have pointed out the obvious flaws in the assumption of future provision. For me, the problem is the misallocation of resources. There is a desperate need for more provision in social care, nhs and pensioner housing. Yet the emphasis is always in bribing those who vote in large numbers. It is not just the triple lock. What about the big tax cuts under Blair when income tax was transferred to NI? What about massive increase ISA allowances and reductions in Inheritance Tax. The question is do we want good social provision or more cruise liners. Pensioners as a group are well capable of providing the resources to fund today's problems. The triple lock was a factor in the Brexit vote. Pensioners knew that they were protected from the economic implications.
There is another explanation. The proportion of service industries in the economy has grown rapidly and accelerated with globalisation. It is difficult to squeeze productivity gains out of hairdressers and care workers. The slowing technical change hypothesis has been proposed many times in the past, e.g. James Galbraith and seems to make more sense than just trying to blame it on capitalism. If it was just neo-liberalism I would expect to see weaker effects in countries with different models. I think that there is too much ideology in your arguments.
A lot of economist pedal that line about bankers being responsible for the crisis but this strikes me as an attempt to deflect blame. Bankers were the proximate cause but the ultimate were the Governments and their economic advisers who aggressively promoted deregulation. Larry Summers was a keen advocate as was Ed Balls. Any comment on this by an economist treated with a degree of skepticism. Better ask a historian (although maybe not Niall Ferguson).
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Aug 17, 2016