July 2026

THE DELUSIONS OF THE PROGRESSIVES:

Scottish tax hike for high earners backfires with loss of £22m: A top rate of 48p for incomes above £125,140, intended as a ‘progressive’ move to raise money for public services, has instead reduced revenues, expert analysis shows (Daniel Sanderson, July 25 2026, Times UK)

Dan Neidle, a tax policy expert who was part of the Scottish government’s recently axed tax advisory group, said its decision to impose a 48p top rate had instead reduced revenues.

All comedy is conservative.

THE ENDARKENMENT:

The Illusion of Madame Récamier (Adam Sandonato, July 21st, 2026, Imaginative Conservative)

In other words, during the course of the Enlightenment, man truly became the measure of all things. By being reduced to his mere physicality, he became both an object of social control through seemingly innocuous behavioral standards—such as we find in Chesterfield—and an object open to radical distortion and experimentation—such as we find in Sade and Shelley. In the quest to rationalize the body, and therefore separate it from its metaphysical dimension, eighteenth-century society did not eliminate the darker impulses, the passions, and the brokenness inherent in man’s fallen state. Instead, it pushed them to the fringes, consigned to the sick imaginings of Sade’s Juliette and of Dr. Frankenstein’s monster.

Here we arrive at the chief issue with the Enlightenment: the idea that the persistent application of reason can cure all of the ills of mankind. In Földényi’s words,

The belief in the omnipotence of reason that illuminates all phenomena—similar to the sun—is the great inheritance of the Enlightenment. Thinking, of course, ever since humans have existed, has always tried to disperse the darkness. Earlier individuals did not cherish the illusion that here on earth they would be able to liquidate every shadow and every darkness. During the Enlightenment, however, the conviction that only time and intellectual preparation were required in order to eventually cast light upon all things—with no dark corners remaining anywhere unilluminated by the light of reason—became resolute.[11]

As a critic and philosopher of art, Földényi is preoccupied with the “duality” between light and darkness, much like a composer is fundamentally concerned with the relationship between tension and release. What Földényi sees in the Enlightenment is man’s attempt to assert his autonomy over light and darkness, with the express purpose of eliminating the latter through the use of rational control.

BORROWING MILEI’S CHAINSAW:

‘I’m over the moon’: New York’s small business owners rejoice as Mamdani cuts red tape: Initiatives including cutting permits just to serve ice-cream amount to a sweeping program of deregulation (Christopher Mathias, 25 Jul 2026, The Guardian)


Red Scare? The democratic socialist mayor of New York City spent this week talking about red tape.

On Tuesday, Zohran Mamdani – the politician at the center of a revived rightwing panic about socialists and purported communists winning elections across America – posted a video on X of himself putting a sheet of paper with the phrase “RED TAPE” into a paper shredder. Other pieces of paper, with phrases like “cumbersome fees and fines” and “a permit you need just to serve ice-cream”, were shredded too. The video, set to Wu Tang Clan’s If Time Is Money, shows Mamdani joining a handful of city officials and small business owners throwing the resulting paper shreds into the air like confetti.

“New York’s small business owners have said it over and over: endless paperwork and the uncertainty of dealing with City government has made getting their stores up and running too difficult,” Mamdani wrote on X, announcing a package of 50 policy changes aimed at easing the financial burden of fines, fees and regulations on mom-and-pop shops across the five boroughs.

Economics trumps ideology.

YES, BECAUSE EQUALITY!:

Andy Burnham is fighting the wrong enemy (Mani Basharzad, 20 July 2026, CapX)

Looking back, it is easy to see why. Inflation reached 25% in 1975. Britain was suffering a brain drain, with highly skilled engineers and academics leaving the country. Why would they stay when the top rate of income tax stood at 83%? Then there was the 1976 IMF bailout, followed by the Winter of Discontent. In 1979 alone, 29.5 million working days were lost to strikes. Unemployment reached 2 million. The dead went unburied, and hospitals were reduced to emergency treatment only.

When the new Prime Minister, Andy Burnham, says he wants to ‘undo Thatcher’s economic legacy’, is that the Britain he wants to return to?

THAT WAS EASY:

Moody’s Lifts Argentina Debt Rating in Fresh Boost to Milei (David Feliba, Jul 21, 2026, Bloomberg News)


Moody’s upgraded Argentina by one notch to B3 from Caa1, with a positive outlook. While the move still leaves the country deep in speculative territory, all three major credit-rating firms now rate Argentina above the highly distressed category, a milestone for a country that spent years among the riskiest sovereign borrowers in global markets.


“The upgrade is clearly positive and reinforces the macro stabilization story under Milei,” Murilo Riccini, Head of Andean Equity Strategy at Bradesco BBI, wrote in a report.

DELTA BLUES:

How Britain Became as Poor as Mississippi: A case study in self-sabotage (Idrees Kahloon, June 10, 2026, The Atlantic)

Taxation is at the highest level since World War II, yet public services have deteriorated. The National Health Service, the celebrated pillar of the British cradle-to-grave welfare state, has a backlog of 6 million patients—almost a tenth of the population—waiting for treatment. The health service now has to spend more money settling maternity-malpractice claims than it does on actually providing maternity care. Many Brits can neither obtain an appointment with a publicly funded dentist nor afford a private one; in a 2023 survey, one in 10 reported doing DIY dental work, in extreme cases extracting their own teeth or gluing broken crowns back together…

Incomes can be shockingly low: Junior doctors recently went on strike for the 15th time in three years over their salaries, which start at just £38,800; the median salary for British civil servants is £35,680…

Recent plans to transform the country[‘s transportation system] have rested in no small part on High Speed 2, a superfast rail line intended to connect London with Birmingham, Leeds, and Manchester. But since HS2 was proposed, in 2009, its costs have tripled, to more than £100 billion. It is the most expensive rail line in the world. (A special structure to protect a rare bat species near the rail line in Buckinghamshire required 8,000 permits and was built at a cost of £216 million.) The most important sections of the proposed route have been lopped off. The rump line—going from Birmingham, Britain’s second-largest city, to not-quite-central London—may be finished by 2040…

Building infrastructure, or much of anything else, has become all but impossible in the United Kingdom. In addition to having the world’s most expensive (not yet built) train line, Britain also hosts the world’s most expensive (not yet built) nuclear-power plant, Hinkley Point C. Its environmental-impact assessment ran 31,401 pages; the plant will feature a £700 million “fish disco,” which will pulse sounds underwater to deter animals from its intake pipes. The government spent 32 years and £179 million planning a tunnel beneath Stonehenge to relieve traffic, only to officially scrap the plan this year. Even basic tasks, such as obtaining power, can be nightmarish…

Britain suffers from a housing crisis significantly worse than America’s. The problem cannot even be blamed on zoning, because Britain does not have a zoning regime to speak of. Rather, every attempt to build is a painful, ad hoc negotiation with local government councils and NIMBY residents. As a result, housing costs per square foot are among the highest in Europe. In the words of one report, “Our housing stock offers the worst value for money of any advanced economy.” France has roughly the same population as the U.K., but almost 50 percent more homes. And yet, since the financial crisis, the U.K.’s rate of housing production has only fallen…In London, the typical house sold in 2024 cost 11 times median earnings.

SHE’D HAVE BEEN A CONSERVATIVE ON THE WARREN/BURGER COURT:

Kagan Says Supreme Court Has Stood Up to Trump in Key Cases (Abbie VanSickle, July 23, 2026, NY Times)

“I think that is a bad rap,” Justice Elena Kagan said during an appearance in Washington State, at an annual gathering of judges and lawyers who work in the judiciary’s Ninth Circuit.

“Is this court very conservative?” she continued. “Does it do a bunch of things that are out of the playbook of the conservative legal movement that I think are deeply wrong? Yes.”

“But,” she added, “is this court kind of a puppet for the current administration? I think definitely not.”

THE rIGHT IS THE lEFT:

Why Fascists Admired Keynes’s Economics: Keynes saw centralized economic direction as an improvement on market coordination. This provided cover to later corporatist authoritarians who wanted to control every aspect of life. (John Phelan, July 23, 2026, Daily Economy)

Keynes believed, according to his biographer, the economist Roy Harrod, that “the government of Britain was and would continue to be in the hands of an intellectual aristocracy,” of which he was part. He supported economic central planning, via corporatism, because he assumed that enlightened experts like himself, a leading member of the Bloomsbury group, not a goon like Mussolini, would be doing the planning. He underestimated the political dangers of replacing decentralized decision-making with central planning, assuming that economic freedom could be curtailed without curtailing other freedoms.

But if we can excuse such a belief held in 1926 as naivety, how can we excuse it still held ten years later when fascism’s true nature was becoming apparent? In September 1936, Keynes wrote in the preface to the German edition of his masterpiece, The General Theory of Employment, Interest and Money, that “the theory of output as a whole, which is what the following book purports to provide, is much more easily adapted to the conditions of a totalitarian state, than is the theory of the production and distribution of a given output produced under conditions of free competition and a large measure of laissez-faire.”

If a totalitarian state is the price we must pay for the Keynesian “theory of output” to be put into practice, it is not a price worth paying. Likewise, if laissez-faire was the economic manifestation of political liberalism, then its death was to be mourned, not celebrated. If economic freedom is surrendered, other freedoms follow. “The economy” is just people acting, and one can only control “the economy” by controlling people.