US Capitalism Criticized for Rising Poverty While UK Conservatives Praise It
A recent column highlights the rise of poverty in the United States as a direct consequence of capitalism characterized by minimal government intervention and low regulation. This economic model, predominant in the US since the early 2000s, has produced increasing social inequality and has been criticized for exporting financial crashes globally, with other countries bearing the resulting costs.
Despite these issues, UK Conservative Kemi Badenoch and Reform UK's Nigel Farage continue to praise the US capitalist model, advocating for deregulated markets and rejecting calls from figures like Mario Draghi for greater European integration and a larger state role to address growth gaps.
The column also notes that far-right parties across Europe, including Germany's AfD, France's National Rally, and Italy's Brothers of Italy, share similar philosophies favoring market deregulation over state intervention.
In the US, poverty remains a pressing issue even as former President Trump plans to host a $300 million White House ballroom event for National Poverty in America Awareness Month, though he is portrayed as unlikely to engage in policies that reduce poverty.
The article points out that older voters, particularly those over 60, are the demographic most receptive to arguments made by Farage and Badenoch, valuing only healthcare as a sacred state function while supporting cuts to other government spending to avoid tax increases.
Arguing for gradualism and a stronger state role, the piece contrasts the US approach—characterized by higher wealth but significant neglect of its most vulnerable citizens—with calls for more effective protection through government intervention.
