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If you are a leftie/socialist, Britain is a hopeless land... watch

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    Britain, fundamentally, has no leg to stand on.

    It's economic success is based on having the most loosely regulated financial sector in the world.

    It's heavily reliant on it's strong currency (which it gets because of the financial sector) and is a net importer.

    If an attempt to implement socialism occurs in Britain, it will not bode well.

    If you are a leftist/socialist, I suggest you move to Spain, Greece or Portugal and start a revolution there.

    Regards
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    You know socialism isn't the same as revolutionary socialism?


    Just putting it out there...
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    It's a good point. The UK is predominantly a service economy and the London financial sector is hugely important to our economy and would suffer immeasurably under socialism. We don't have that much in the way of natural resources and we don't manufacture much so we would really struggle as a socialist country.

    So, don't vote Green.
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    Would this be the same loosely regulated financial sector that was responsible for one of the biggest economic crashes since the great depression?

    I'm not quite sure whether I'm left or right wing, but this idea that the right is always good with the economy and the left is always terrible really is pathetic.
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    It's a shame our economy is so reliant on the financial sector. We used to manufacture much more, especially in the mining industry, however this was destroyed by Margaret Thatcher. We need to increase our manufacturing and exports, I believe, in order to create a stronger economy.


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    We also need to reduce the strain on our economy by reducing immigration. And we need to create our own trade deals, more with America, for example. Solution= vote UKIP and leave the EU.


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    The financial sector is one the most regulated industries in the country. There is no industry of note in this country that is loosely regulated.
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    (Original post by 10001)
    It's a shame our economy is so reliant on the financial sector. We used to manufacture much more, especially in the mining industry, however this was destroyed by Margaret Thatcher. We need to increase our manufacturing and exports, I believe, in order to create a stronger economy.

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    Destroyed because the unions made it cheaper to import from Poland, worth remembering. Also worth remembering that the state nationalised our industrial heartlands for the world wars.

    I do agree with you though but i don't think British governments have ever really bothered to develop a proper industrial strategy.
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    (Original post by 10001)
    We also need to reduce the strain on our economy by reducing immigration. And we need to create our own trade deals, more with America, for example. Solution= vote UKIP and leave the EU.

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    Those ideas are contradictory.

    Increased immigration increases the size of the labour force which so long as business can adapt (it does, that's why population growth is not correlated with unemployment) increases output and even per capita wealth.

    What you probably meant to say was 'reduce the strain on public services' albeit i'd argue we can increase infrastructure capacity (have our cake and eat it).

    The EU and US are negotiating a trade deal right now. We already have them with a number of countries. Though i don't oppose the idea of more.
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    Socialism was essentially what destroyed much of UK's heavy industries. Granted bad management practices also contributed towards it.

    In hindsight, letting those industries fail or simply selling them off to the highest bidder wasn't such a bad thing especially considering how things are these days.

    Socialism and free-market can co-exist together, in reality you don't even need the kind of high taxes for it to work. Just take a look at all the Nordic countries, these countries are successful not because they are socialist but they tend to have among the freest economies in the world.
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    (Original post by RFowler)
    Would this be the same loosely regulated financial sector that was responsible for one of the biggest economic crashes since the great depression?

    I'm not quite sure whether I'm left or right wing, but this idea that the right is always good with the economy and the left is always terrible really is pathetic.
    Its not abut being good or bad. The financial sector is a big issue. Right wingers love it because it is the foundation of this capitalist economy. Left wingers hate it because it is the foundation of this capitalist economy. If you try to make any significant changes to it, the economy will go down the drain.
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    (Original post by The_Mighty_Bush)
    The financial sector is one the most regulated industries in the country. There is no industry of note in this country that is loosely regulated.
    Regulatory arbitrage occurs via London. Transactions/activities financial institutions cannot get away with elsewhere, are carried out in London.

    Corporation tax is low and there are loads of ways to manipulate your profits to avoid paying tax and even get refunds.

    Tax loopholes are utilized by corporation too.

    Funnily enough this is why the UK can't grow properly. The virtual economy takes precedence over the real economy, thanks to Thatcher.

    Britain is a little spec in the global economy. It cannot compete in manufacturing and agriculture so it moved to financial services.

    That's why they needed the Empire. To get access to more land and therefore more resources and more produce!
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    (Original post by Rakas21)
    Destroyed because the unions made it cheaper to import from Poland, worth remembering. Also worth remembering that the state nationalized our industrial heartlands for the world wars.

    I do agree with you though but i don't think British governments have ever really bothered to develop a proper industrial strategy.
    Britain and Poland should have joined their coal industries together and set a price that can sustain both economies, like OPEC for coal...alas socialists are so one minded and short sighted
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    (Original post by saayagain)
    Britain and Poland should have joined their coal industries together and set a price that can sustain both economies, like OPEC for coal...alas socialists are so one minded and short sighted
    Unfortunately there's have been little point in that in hindsight because by about 2000 Russia and China were churning out even cheaper coal. Coal miners are still going bust today because even with massive automation it's barely profitable to compete against other nations.
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    (Original post by Rakas21)
    Unfortunately there's have been little point in that in hindsight because by about 2000 Russia and China were churning out even cheaper coal. Coal miners are still going bust today because even with massive automation it's barely profitable to compete against other nations.
    lol...so between the early 1970s until 2000, Britain and Poland would have had an alliance which could have been expanded further before Russia and China's emergence.

    Anyway...you prove my original point is correct. Britain is ill equipped and cannot survive on it's own in industry and agriculture.

    What I am talking about in regards to the Britain Poland scenario is the only way Britain can be socialist and survive. Otherwise, forget the UK. It will be a follower in terms of socialism.
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    (Original post by saayagain)
    lol...so between the early 1970s until 2000, Britain and Poland would have had an alliance which could have been expanded further before Russia and China's emergence.

    Anyway...you prove my original point is correct. Britain is ill equipped and cannot survive on it's own in industry and agriculture.

    What I am talking about in regards to the Britain Poland scenario is the only way Britain can be socialist and survive. Otherwise, forget the UK. It will be a follower in terms of socialism.
    Until 1990 Poland was part of the UUSR.

    British industry is actually not bad, it's simply that we don't have enough of it.

    If we actually needed to feed ourselves we could but our climate holds us back from being an agricultural exporter before then.
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    (Original post by Rakas21)
    Until 1990 Poland was part of the UUSR.

    British industry is actually not bad, it's simply that we don't have enough of it.

    If we actually needed to feed ourselves we could but our climate holds us back from being an agricultural exporter before then.
    The USSR's socialism should have sought to create monopolies in certain industries.

    Labour, if they were really socialist, should have sought to join the USSR in an economic union wherever it is sensible.

    Britain is doom I tells ya...DOOOOOMED
 
 
 
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