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Harris: Britain's Decline & The Need for Supply-Side Economics

Richard Harris is a columnist for the Hong Kong-based newspaper The South China Morning Post. He has held senior management positions at companies such as JPMorgan and Citibank.

Recently, Harris spent two weeks in the UK, during which she had many complaints and grievances.

After his trip to Britain, Harris was extremely frustrated. In an article published on June 5th, he used the word decline to describe what England has become today.

For a country that has fallen from its former glory, this description is unfortunate, but apt, wrote Harris. Today, this once great nation is facing a continuous, self-destructive decline.

Harris also mentioned the current state of Chinese society, comparing it to the decline of Britain.

He said, Thirty years ago in China, people complained about poor road conditions, poor telephone signals, long travel times to anywhere, and difficulty in accessing medical care. But now thats no longer the case in China. In the UK, however, things are often like this.

According to his description, the state of roads, public utilities, and public services in England vividly illustrates the British peoples lack of planning and organization. They tend to deal with problems in a vague manner, hoping that things will resolve on their own. The situation in other parts of Britain is even worse. In Britain, people generally feel that the public sector is completely irresponsible in handling any matters. The public doesnt feel that services are being provided properly, and they also fail to exercise sufficient resistance against such situations.

Here, Harris added a few words: Although I specifically mentioned the UK, most developed economies are experiencing the same regressive decline. The once-leading infrastructure has become outdated and lacks proper maintenance.

Harris: Britain's Decline & The Need for Supply-Side Economics

In recent years, the number of homeless people in London has increased. Social media

Subsequently, Harris began to analyze the deep-seated reasons behind Britains current decline, attempting to find solutions to this problem.

He said that many Britons live quite comfortably, even if they dont have enough cash. This can be seen from most of the parking lots in the UK.

He believes that the problem lies in Britains welfare system. The government spends more on welfare for young people than on helping them find jobs. Every young person must fight for their own place in the world. They dont deserve welfare benefits; instead, such benefits only weaken their motivation to pursue success.

The article mentions that as early as the 1960s, some people predicted that such problems would occur.

Harris quoted a statement by U.S. President Kennedy: Dont ask what the country can do for you; ask what you can do for the country. He said that the welfare system has eroded the spirit of dedication, especially when benefits are extended to more people. Of course, free money helps governments win elections. But how much longer can public finances endure when the welfare system turns Britain into a welfare society that relies on public debt to function?

Please dont misunderstand. I support providing benefits to certain groups when they are needed, such as teenagers, the elderly, patients, and people with disabilities. This is something we, as humans, should do, he said. I also support regulation, but it must be good regulation. Excessive regulation can benefit certain lobbying groups or fashionable but unscientific theories.

Here, Harris specifically mentioned the British Green Party. He said that the Green Party has always been committed to improving healthcare and promoting economic development. However, some populist politicians who dont understand the facts are implementing false policies based on misconceptions.

He continued to list the problems in British society. For example, in most areas of London, traffic is slow; speed limits are set at 30 kilometers per hour, and roads are closed, leading to traffic congestion. This further exacerbates pollution in other areas. Companies struggle to cope with high taxes and unnecessary regulations. Local governments, however, bear almost no risk, as they receive a lifetime job from the government. The only way local governments solve any problems is by spending taxpayers money. But problems will always exist Eventually, people will have to adapt to these problems on their own.

Harris concluded that excessive government intervention, whether through subsidies or regulatory pressures, can stifle growth that could improve society. For Britain, which is currently in a state of decline, it is necessary to reevaluate supply-side economics.

According to him, supply-side economics means that governments use funds to reduce business friction. Specific measures can include:

Build strong infrastructure, such as efficient and reliable roads, railways, maritime facilities, airports, mobile phone networks, and ultra-high-speed broadband.

Education for adolescents under 18 years of age must meet high standards, with emphasis on skill development. Universities with lower academic standards should be replaced by technical colleges, so as to provide practical business skills.

Relaxing speed limits, re-planning urban roads to ensure that different modes of transportation such as motor vehicles and bicycles do not interfere with each other;

Environmental protection does not have to come at the expense of economic development. On the contrary, economic development will contribute to global greening

Finally, Harris also called on governments in Western countries like the UK to implement good regulation. This means ensuring that commercial organizations do not monopolize prices and operate without order, enforcing important regulations strictly, reducing reliance on culture, and enhancing individual responsibility.