“If I wanted to be cynical, I’d say cuts are just a sideshow, a diversion from the main event. They’ll keep rolling on and on and on, because the simple truth is that wealth is being extracted from society at an ever faster rate. The main event? Deep institutional reform, so our institutions create wealth, instead of merely extracting it. The longer we put it off, fail to do it, or, most vitally, fail to understand that logic, the longer and harder this great stagnation will be.”

Umair Haque