“躺着就能赚钱”《大不列颠的背叛》(一·三)
2024-07-11 翻译熊 4596
正文翻译
Since the election of Margaret Thatcher’s Conservative government in 1979, Britain has undergone a great experiment. Economically, the UK became the exemplar of neoliberalism in Europe. Politically, the UK has quietly transitioned to a postnational state, undergoing one of the greatest demographic transformations in the West.
Although the landslide victory of Tony Blair’s “New Labour” in 1997 may have seemed like a return to the model of European social democracy that Britain exemplified after the Second World War, Blair’s “Third Way” represented rather the embrace of neoliberalism by the establishment Left, summed up nicely by their spokesman Peter Mandelson’s declaration that “we are all Thatcherites now”.

自 1979 年玛格丽特·撒切尔的保守党政府当选以来,英国经历了一场伟大的实验。在经济上,英国成为欧洲新自由主义的典范。在政治上,英国悄然转变为后民族国家,经历了西方最大的人口结构转变之一。
工党”在1997年取得压倒性胜利,看似回归了英国在二战后所体现的欧洲社会民主模式,但布莱尔的“第三条道路”却代表了建制派左翼对新自由主义的拥抱,其发言人彼得·曼德尔森宣称“我们现在都是撒切尔主义者”,很好地概括了这一点。

Under the leadership of both the Conservative Party and New Labour, Britain has transitioned from a traditional industrial and manufacturing powerhouse to a highly financialised rentier economy. The effects have been profound. The average Briton is considerably worse off and entire regions have been left behind at the same time London has become a booming centre of international finance. The UK has been denationalised by decades of mass-immigration and cultural leftism, and has become the prime example of “anarcho-tyranny”, where the state punishes minor offences and acts of dissent against the liberal consensus with extreme force, while serious crime runs out of control in major cities.

在保守党和新工党的领导下,英国从传统的工业和制造业强国转变为高度金融化的食利经济。其影响深远。英国普通民众的生活水平大幅下降,整个地区都被抛在后面,而与此同时,伦敦却成为了蓬勃发展的国际金融中心。数十年的大规模移民和文化左派主义使英国丧失了国家性,并成为“无政府暴政”的典型例子,国家以极端武力惩罚轻微犯罪和违反自由主义共识的异议行为,而大城市的严重犯罪却失控。

The Rentier Regime
The fundamental transformation in the British economy since the 1980s is the movement away from an economy that made things to an economy that made money . Up to then, Britain’s economic might had been centered on its manufacturing. Britain was the birthplace of the industrial revolution, and the dual expansion of its colonial empire and rapid advances in engineering allowed for the creation of a vast trading network, where colonies provided the raw materials and markets for British manufacturing. Northern English cities like Manchester, Sheffield and Newcastle became manufacturing powerhouses serving the world.


食利者制度
自 1980 年代以来,英国经济的根本性转变是从制造型经济向赚钱型经济的转变。在此之前,英国的经济实力一直以制造业为中心。英国是工业革命的发源地,其殖民帝国的双重扩张和工程技术的快速进步使其建立了庞大的贸易网络,殖民地为英国制造业提供了原材料和市场。曼彻斯特、谢菲尔德和纽卡斯尔等英格兰北部城市成为服务于世界的制造业强国。

Britain has shifted from an entrepreneurial capitalism to rentier capitalism: an economic system organised around income-generating assets. In this system, ownership of sought-after scarce assets — land, natural resources, intellectual property — is the source of a significant portion of economic activity, and the regime is dominated by vastly wealthy rentiers. Wealth is built around having rather than doing.

英国已从创业资本主义转向食利资本主义:一种以创收资产为中心构建的经济体系。在这种体系中,抢手的稀缺资产(土地、自然资源、知识产权)的所有权是经济活动的重要来源,而该体系由极其富有的食利者主导。财富是建立在拥有而不是行动的基础上的。

In his book Rentier Capitalism, the economic geographer Brett Christophers showed that the main effects of Thatcherite-era reforms were to open up new income streams to rentiers that had little or no productive effects. The pattern since then has been the privileging of rentier accumulation over investment in productive economic activity. The share of UK GDP coming from manufacturing was 32% in 1973, today it is under 9%. The UK today is producing a lot of money, but not much else.

经济地理学家布雷特·克里斯托弗斯在其著作《食利者资本主义》中指出,撒切尔时代改革的主要影响是为食利者开辟了新的收入来源,但这些收入来源几乎没有任何生产性影响。自那时以来,这种模式一直是食利者积累优先于生产性经济活动投资。1973年,英国制造业占 GDP 的 32%,如今这一比例不到 9%。如今,英国生产了大量资金,但其他收入却不多。
原创翻译:龙腾网 https://www.ltaaa.cn 转载请注明出处


A number of developments have empowered rentiers and disempowered renters since the first Thatcher government: following the monetarist prescxtions of the Chicago school of economics, Thatcher’s government privatised vast quantities of public assets and deregulated financial markets, which allowed for a massive growth in interest-bearing credit (household debt increased from 37% to 70% of GDP under Thatcher). The big discoveries of oil and gas in Britain’s North Sea, as well as the emergence of new rent-generating digital technologies and platforms has also led to the swelling of rentier portfolios.

自第一届撒切尔政府以来,一系列发展使食利者获得了权力,而承租者则失去了权力:撒切尔政府遵循芝加哥经济学派的货币主义处方,将大量公共资产私有化,并放松了对金融市场的管制,这使得有利息的信贷大幅增长(撒切尔执政期间,家庭债务占 GDP 的比例从 37% 上升到 70%)。英国北海石油和天然气的大量发现,以及新的产生租金的数字技术和平台的出现,也导致食利者投资组合的膨胀。


Successive governments have amended tax policy to favour rentiers. For example, in 2016 the Conservative government introduced “The Patent Box”, which allowed companies to pay a substantially lower corporate tax of just 10% on profits earned from intellectual property. This has mostly benefited corporate giants like GlaxoSmithKline, the UK pharmaceutical company who reported that this change led to them keeping an extra £458 million per year.

历届政府都修改税收政策以利于食利者。例如,2016 年保守党政府推出了“专利盒”,允许企业就知识产权利润缴纳低得多的企业税(仅为 10%)。这主要惠及企业巨头,如英国制药公司葛兰素史克,该公司报告称,这一变化使他们每年额外获得 4.58 亿英镑。

The UK was also the first government to pioneer Public Private Partnerships, under which public services and infrastructure are outsourced to private companies to collect rents, though much of the financial risk remains with the state. These PPP schemes have not only led to huge windfalls for the private companies operating them, but have been shown time and again to cost the government more than if it funded public projects directly. A report on “The UK’s PPPs Disaster” notes that:
Since 1992 PPPs yielded public assets with a capital value of $71 billion. The UK government will pay more than five times that amount under the terms of the PPPs used to create them.

英国也是第一个率先采用公私合作模式(PPP)的政府,根据该模式,公共服务和基础设施外包给私营公司收取租金,但大部分财务风险仍由国家承担。这些 PPP 计划不仅为运营这些计划的私营公司带来了巨额意外之财,而且事实一再证明,政府的成本比直接资助公共项目的成本更高。一份关于“英国 PPP 灾难”的报告指出:
自 1992 年以来,PPP 产生的公共资产资本价值已达 710 亿美元。根据用于创建 PPP 的条款,英国政府将支付该金额的五倍以上。

Not only this, but much of this giant rent extraction from the British public to private finance is offshored and avoids taxation. In 2011, the UK Public Accounts Committee reported that investors were extracting huge profits from British taxpayers by buying up contracts for schools and hospitals funded through PPPs, and taking the proceeds offshore. The committee reported that many PPP contractors are based in offshore tax havens, making a mockery of the assumption held by the UK Treasury that these contractors would benefit the British economy by paying tax.

不仅如此,英国政府向私人融资收取的巨额租金中,很大一部分被转移到海外,从而避免了纳税。2011 年,英国公共账户委员会报告称,投资者通过购买由 PPP 资助的学校和医院合同,并将收益转移到海外,从英国纳税人那里榨取了巨额利润。该委员会报告称,许多 PPP 承包商都位于海外避税天堂,这让英国财政部认为这些承包商会通过纳税使英国经济受益的假设变得可笑。

The Thatcher government also gave enormously generous terms for the oil companies which extracted British North Sea oil. The discovery of abundant oil and gas reserves in the North Sea can take a lot of credit for funding the economic boom in the 1980s, helping to mask the contraction that was happening in the real economy in this period.


撒切尔政府还为开采英国北海石油的石油公司提供了极其慷慨的条件。北海丰富的石油和天然气储量的发现在很大程度上为 20 世纪 80 年代的经济繁荣提供了资金,帮助掩盖了当时实体经济的萎缩。

But while countries like Norway invested large oil discoveries into long-term investments like sovereign wealth funds, Thatcher’s government used it to fund cuts in the higher rates of income tax. One economist estimated that had the 3% of national income that was being generated from oil and gas extraction been invested in ultra-safe assets, it would conservatively have been valued £450bn by 2008. Instead, this money was used to fund a great cash giveaway for the highest earners in British society, much of which was then invested back into property assets and used to inflate the housing market, rather than stimulate real economic growth.

然而,尽管挪威等国家将大型石油发现投资于主权财富基金等长期投资,撒切尔政府却用它来资助削减较高的所得税率。一位经济学家估计,如果将石油和天然气开采产生的 3% 的国民收入投资于超安全资产,到 2008 年,保守估计其价值将达到 4500 亿英镑。然而,这笔钱却被用来资助英国社会最高收入者的巨额现金补贴,其中大部分随后被重新投资于房地产资产,并用于推高房地产市场,而不是刺激实际经济增长。
原创翻译:龙腾网 https://www.ltaaa.cn 转载请注明出处


Privatisation, deregulation and financialisation has led to Britain becoming, in the words of the Financial Times, a “rentier’s paradise”. All the while, this transformation and the huge wealth transfer it brought has been subsidised by the British public, most of whom have seen declining or stagnant living standards for decades. The UK is a rentier regime — all policy since the 1980s can be understood as favouring rentiers, even (and often) at the expense of the national interest.

私有化、放松管制和金融化使英国成为《金融时报》所说的“食利者的天堂”。一直以来,这种转变及其带来的巨大财富转移都得到了英国民众的补贴,而大多数人的生活水平几十年来一直在下降或停滞不前。英国是一个食利者政权——自 1980 年代以来的所有政策都可以理解为有利于食利者,甚至(而且经常)以牺牲国家利益为代价。

London’s financial black hole
London had historically been the seat of British finance and government, but under Thatcher, the financialised economy began to increasingly decouple from the traditional economy while becoming the driving force behind the new model’s economic growth. The highest levels of the UK government and the Bank of England came to increasingly serve the interests of the London financial elite. The new model adopted in Britain was:

伦敦的金融黑洞
伦敦历来是英国金融和政府的中心,但在撒切尔夫人的领导下,金融化经济开始逐渐与传统经济脱钩,成为新模式经济增长的驱动力。英国政府和英格兰银行的高层越来越多地为伦敦金融精英的利益服务。英国采用的新模式是:

Very much influenced by people with financial market backgrounds. They knew a lot about the City and capital markets but relatively little about manufacturing and regional industries. Markets to them were all about transactions, not production, labour or materials. Industry was part of an ageing foreign space for them. Finance was their new world.

深受具有金融市场背景的人的影响。他们对金融城和资本市场了解颇多,但对制造业和地区产业了解甚少。对他们来说,市场就是交易,而不是生产、劳动力或材料。对他们来说,工业是一个逐渐老去的陌生领域。金融是他们的新世界。

The graph below demonstrates the explosion in London-based financial services in delivering growth for the British economy

下图显示了伦敦金融服务业的蓬勃发展为英国经济增长作出的贡献


As well as allowing the growth of financial services in London, the deregulation of successive Thatcherite-Blairite governments has made London an enormous centre of speculation. Property in London has become an especially popular commodity for the world’s elites to speculate on. In 2015, it was reported that non-resident buyers had spent over £100 billion on UK property in the previous six years. Foreign buyers now account for 41% of activity on the London property market. Many of the high end residential properties snapped up by oligarchs are left empty — London now has over 34,000 homes classified as “long-term vacant”.


撒切尔和布莱尔政府的连续放松管制不仅促进了伦敦金融服务业的发展,还使伦敦成为一个巨大的投机中心。伦敦的房地产已成为世界精英投机的热门商品。2015 年,据报道,非居民买家在过去六年中在英国房地产上花费了超过 1000 亿英镑。外国买家现在占伦敦房地产市场活动的 41%。寡头们抢购的许多高端住宅物业都空置了——伦敦目前有超过 34,000 套房屋被归类为“长期空置”。

Hearing that London is both a booming financial centre and the top destination for the world’s super rich, anyone would be forgiven for assuming that this is an unmitigated good for the UK’s economy. But there is good evidence that the London financial centre has become a black hole on the rest of Britain and its more traditional economy.
It was conventional wisdom of the neoliberal reformers that a growth in the financial sector would benefit other sectors of the economy: not only is there more money fluctuating in search of investment opportunities, but a larger finance sector means more knowledge circulating about the markets it studies, more efficient markets, and thus more effective investments.

听说伦敦既是蓬勃发展的金融中心,又是世界超级富豪的首选目的地,任何人都会认为这对英国经济绝对有利。但有充分证据表明,伦敦金融中心已成为英国其他地区及其更传统经济的黑洞。
新自由主义改革者的传统观点是,金融部门的增长将使经济的其他部门受益:不仅会有更多的资金流动以寻找投资机会,而且金融部门的扩大还意味着有关其研究的市场的知识流通更多,市场更加高效,从而投资更加有效。

Since the 2008 financial crash, much has been learned that challenges this assumption. A 2015 study by the Bank of International Settlements concluded that:
The growth of a country’s financial system is a drag on productivity growth. That is, higher growth in the financial sector reduces real growth. In other words, financial booms are not, in general, growth-enhancing, likely because the financial sector competes with the rest of the economy for resources.

自 2008 年金融危机以来,人们已经了解到很多挑战这一假设的知识。国际清算银行 2015 年的一项研究得出的结论是:
一个国家的金融体系的增长会拖累生产力的增长。也就是说,金融部门的高速增长会降低实际增长。换句话说,金融繁荣通常不会促进增长,这可能是因为金融部门与经济的其他部门争夺资源。

Referring specifically to Britain, the authors of The Finance Curse write that:
‘Financialisation’ has crowded out manufacturing and non-financial services, leeched government of skilled staff, entrenched regional disparities, fostered large-scale financial rent-seeking, heightened economic dependence, increased inequality, helped disenfranchise the majority and exposed the economy to violent crises. Britain is subject to ‘country capture’ with the economy constrained by finance, and the polity and media under its influence.

《金融诅咒》的作者特别提到了英国,他写道:
“金融化”挤占了制造业和非金融服务业,使政府失去了技术人才,加剧了地区差距,助长了大规模的金融寻租行为,提高了经济依赖性,加剧了不平等,剥夺了大多数人的权利,使经济面临严重的危机。英国正遭受“国家俘获”,经济受到金融的制约,政体和媒体也受到金融的影响。

In 2018, a trio of economists tried to put a number on the cost of this ‘finance curse’. They concluded that in just a 20 year period, from 1995 to 2015, excessive financialisation cost the UK economy £4.5 trillion in unrealised growth.


2018 年,三位经济学家试图估算这一“金融诅咒”造成的损失。他们得出的结论是,在 1995 年至 2015 年的短短 20 年时间里,过度金融化导致英国经济损失了 4.5 万亿英镑的未实现增长。
(未完待续)

原创翻译:龙腾网 https://www.ltaaa.cn 转载请注明出处


评论翻译
见末篇


很赞 5
收藏