Capital and Brexit

Capital is money that is invested in the expectation of a profit. Investors inevitably move their money
towards the highest rate of interest and lowest risk of loss. The analogy of fungal growth is offered here.
A fungus such as wood rot will extend many hyphae. Where water and nutrients are abundant a new
fruiting body appears above ground as a mushroom – or a stock market. Dry spaces are a minor obstacle
to fungal growth, and national boundaries are minor obstacles to globalisation of capital.
“Socialisation of loss, privatization of capital” in 2008 led to the current £1.7 trillion debt, with another £100 billion soon to come from Greek and other EU debts.. The Conservative project of “rolling back the state” is now advanced, so no incoming government of the left can hope to have much revenue.
The world since 1991 forms a single substrate for capital. This seemed to be delivering prosperity to
most peoples, but problems appeared in 2008. A big problem in the UK is the loss of jobs in basic
industry. Capital has moved them to Asia and concentrated financial services in London. Other new
jobs are mostly poorly-paid in distribution and retail. The historical materialist basis of classes is analysed, particularly the role of UKIP for small business.

The expansion of Capital into property has created another problem for UK workers. Rents now take
40% or more of income and house ownership is out of reach for many.
A “people’s march for real jobs and affordable housing”, which could be addressed by an infrastructure spending on rail, road and cycle tracks.