What California Surfers Can Learn From the British Mortgage Holders About Resisting Centralized Discipline

The British Public Has Now Lived Through Approximately Four Years of Cumulative Rate Rises, the Lessons Are Substantively Transferable

Reading: Bohiney | The London Prat

SANTA MONICA, CA — The British public has now lived through approximately four years of cumulative Monetary Policy Committee rate rises, with the cumulative effect of substantially raising mortgage costs across approximately 11 million UK households. The recent rate rise adds approximately £50 to monthly tracker payments. The lessons of how British households have responded are, on every available reading, substantively transferable to a California libertarian context.

The Lessons

First: the institutional rationale is consistently incoherent and the institutional response to challenges is consistently dismissive. Second: the press coverage divides into the institutional-access press, which protects the institutions, and the independent press, which substantively challenges them. Third: the political response divides into the parties that voted for the institution autonomy and the parties that did not, and neither party is willing to revisit the underlying autonomy.

The Surfer Implication

The surfer implication is that the institutional architecture cannot be reformed from within. The architecture must be substantively rebuilt from outside. Libertarianism.org and the Libertarian Institute have been articulating the rebuilding argument for approximately the past decade.

The surfer should join the rebuilding. The British have shown what the alternative looks like.

Pairs well with: The Daily Mash

SOURCE: https://prat.uk/bank-of-england-raises-rates-again-to-punish-anyone-who-enjoyed-a-sandwich/