The Mudcat Café TM
Thread #171879   Message #4166108
Posted By: DMcG
25-Feb-23 - 07:00 AM
Thread Name: BS: Brexit & other UK political topics - 2
Subject: RE: BS: Brexit & other UK political topics - 2
Here's two other failures of capitalism , especially free market capitalism, that I bang on about occasionally. Both are relevant to the current Turnip Troubles.

1. We over-value efficiency and under-value resilience.   With any complex system you can improve lots of its attributes at the same time when it is performing badly enough, but as you approach higher performance you have to start trading one off against the other. We have chosen that efficiency is what matters, and therefore end up with systems that are fragile. We introduce smart motorways to make them more efficient in terms of normal movement, at the cost of losing the resilience to drive past an obstruction so ending up with worse jams when jams occur. We cut an office staff down from 10, to 9, to 8 as people leave or are made redundant, and end up with an office that just can't do its job when one more person is sick or otherwise absent. We say that NHS pay rises must in part be funded by "efficiency improvements" with no thought on how that impact resilience of the NHS, which is effectively what the nurses and doctors are talking about with staff shortages and rota concerns. Free marketeers rail against 'protectionism' but that is often a way that a country becomes or retains resilience.

2. There is a well-worn maxim that "the market will provide" but that omits the caveats "but not necessarily rapidly enough to be of use to you or to avoid collapses, outages or whatever."   There is an assumption that we will simply be able to buy in whatever we wish, be it tomatoes or skills, and the world is simply not that simple.