Nobody knows what to do with the state
https://mishtalk.com/economics/the-uk-elected-a-new-prime-minister-liz-truss-now-what
Truss, the co-author of “Britannia Unchained”, promises to shrink the state.
Here we go again . . .
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Nobody knows what to do with the damn state.
The left has wanted more statism for two hundred years. The right has wanted less. The electorate has gone back and forth, back and forth, continually dissatisfied with the result.
Well, industrial-capitalist modernity has a dynamic of its own. There has been a juggernaut of co-dependent capital, technology, and the state for a very long time. No political administration makes much of a dent. And not much will change until the populace throws up its hands and disengages from the whole damn Leviathan.
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Of course, an actual trend is toward more and more in the way of state-managed capitalism:
The move is contested by some EU countries worried about a power grab by the EU executive, while critics say it smacks of China-style state capitalism.
The verdict re: managed capitalism remains out. Supporters say there is no reason to be subjected to the vagaries of ever-shifting anarchistic market forces. Critics say that all the management (fiscal and monetary) distorts the pricing signals that supposedly enable capitalism to allocate resources efficiently. China seemed to do well ramping up via state-induced development; but now it’s suffering from (guess what) a misallocation of capital (skewed toward real estate).
Centralized power really can’t help trying to do more and get more and be more and do more. Conservatives shrink the state until the populace experiences pain on account of some crisis and then they get on the “do more” bandwagon.
