Quote (JohnnyMcCoy @ Mar 17 2023 05:18pm)
you say neoliberalism has gutted state capacities, but in fact they have have hundreds of billions at their disposal
is that not enough? maybe not wasting most of it would be a start
Having capital isn't really the issue, though. Capital alone doesn't make decisions, or even necessarily allow you to accomplish whatever thing you are looking to do.
Western states have large budgets when you look at the dollars, but little of that money gets to where it should be going. And even if government one day decided to fund important public works, it wouldn't have the ability to do so effectively because the skill pool no longer exists in large part.
Which creates a dual problem. Every once in a while when some thing needs to be built - a metro system, railway upkeep, a new bridge, a new nuclear power plant, whatever it may be - the lack of talent (not to mention the corruption) lead to the project coming in after years of delays, with enormous cost overruns, and degraded performance. Then, because of all these failures, the collective political imagination is
further deflated.And all of this is much less of an issue outside the West. There's actual optimism in society outside this awful place.