{"id":97006,"date":"2026-11-14T07:33:31","date_gmt":"2026-11-14T07:33:31","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=97006"},"modified":"2026-11-14T07:34:32","modified_gmt":"2026-11-14T07:34:32","slug":"97006","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2026\/11\/14\/97006\/","title":{"rendered":"Capital and capital maintenance have a very heavy price tag attached"},"content":{"rendered":"

As the New York Times<\/a> has noted:<\/p>\n

\n

The Federal Aviation Administration ... on Friday halted nearly all departures and stranded thousands of passengers at airports across the country.<\/p>\n

Hundreds of flights were diverted to other airports and more were canceled, even as some internationally bound flights managed to secure permission to take off.<\/p>\n

Many passengers were taken off flights or told to go home. Chaos spread at airports as travelers sought answers from airline and airport employees.<\/p>\n<\/blockquote>\n

This morning's video<\/a> in the Understanding Economics<\/em> series is on capital. Monday's will be on the need for capital maintenance.\u00a0 And this failure in the USA is because, in the neoliberal era, no one is maintaining capital, especially that linked to the critical infrastructure that keeps countries going.<\/p>\n

We are bad at this in the UK.<\/p>\n

The USA is no better.<\/p>\n

One reason for protests and riots in France has been failing education infrastructure.<\/p>\n

In the interests of cost saving, and in pursuit of austerity - which is both the politics of neglect as well as of cruelty - we have been consuming our capital, with the result that we have been living well beyond our means.<\/p>\n

Unless we re-engage with capital and its significance, we are in deep trouble, but nowhere more so than when we consider ecological capital, where the failure to engage with the issue will eventually cost billions their lives and cause turmoil at a level none of us can currently really imagine.<\/p>\n

Capital, and capital maintenance. are relatively straightforward economic concepts. Our refusal to recognise them as issues, except for financial capital, has had a very heavy price tag attached.<\/p>\n","protected":false},"excerpt":{"rendered":"

As the New York Times has noted: The Federal Aviation Administration … on Friday halted nearly all departures and stranded thousands of passengers at airports
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,204,35,108,16,74,147,224,106,223],"tags":[],"class_list":["post-97006","post","type-post","status-publish","format-standard","hentry","category-corruption","category-economic-justice","category-economics","category-environment","category-ethics","category-green-new-deal","category-inequality","category-neoliberalism","category-politics","category-politics-of-care"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/97006","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=97006"}],"version-history":[{"count":2,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/97006\/revisions"}],"predecessor-version":[{"id":97008,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/97006\/revisions\/97008"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=97006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=97006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=97006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}