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Britain’s Recession February 19, 2009

Posted by Joseph in economy.
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‘When one is devoted to money, truth loses meaning, one only sees a booby-trap there.’
Jacques Alan Miller

The recession appears particularly bad in the UK for one prime reason, the ‘post industrial economy’. The excuse that its all right to lose any tangible productivity because that’s ‘not modern’ has been exposed as a horrendous mistake by the latest recession. Britain’s reliance upon the financial sector has exposed her economy as a one dimensional banana republic. The sector, a bit like an oil economy, has become dominant in policy terms. It has allowed the UK economy strength without much planning, action or policy, except for the deregulation for that sector.

It has allowed extreme wealth to flourish and enable a trickle down into other tertiary sectors that similarly disappear when recession bites. The UK it seems, a nation of ‘shopkeepers’, has given up on planning or aspiration based on anything other than the accumulation of numbers in a bank account. There exists no drive in the economy to do anything other than make a quick buck, whether through bankers bonuses, houses, get rich quick schemes or outsourcing. That and the desire to consume are the main driving factors of the economy.

The recession has also proved this prima facie addiction to money, that so affects and debilitates the country, punishes through malaise and depression and therefore not being able to think let alone work. Even Gordon Brown mistook the two; recession and depression. Is this the eventual fate of the capitalist society, the final beast of late capitalism; a collective psychological disorder brought on by a made up system to go with our clogged arteries? A system that relies on the impossibility of unending growth in a finite world, a creature almost as far fetched as the world’s only other collective fantasy: God.