A lot of points made so far, I'd like to comment on a few:
The "North/South divide"......Discussions about this always seem to be couched in terms of "wealthy southerners/deprived northerners".....I believe much of this is historical prejudice.
I live in the south-east and most of the people I know, far from being wealthy really struggle with mortgage payments on overpriced properties. Wages may be higher, but everything goes out again on day to day living. Both my sons have moved north and have a far better quality of life, even on lower incomes.
The old saying that northern folk perpetuate the myth "Life is grim up north" to put off southerners from moving there may have a ring of truth to it after all!
Comment has been made re. putting money into the nation's High Streets to "stop the decline"...…...
I never do a big shop in my local High Street, for a very good reason; I can't afford to. I'm not referring to High Street prices, but to greedy local councils who make both parking meters and car parks ridiculously expensive. Then if you commit the "crime" of overstaying on a parking meter, some evil creature in a black and yellow uniform slaps a £60 (or more) fine on your windscreen. I do my shopping in the out of town centre Sainsbury's where the parking is free and you can relax, take your time and have a cup of coffee before returning to your (ticket free) car. It seems every week another small shop in my area closes down, and the local council idiots can't seem to work out why.
To answer the original question which I believe was "Is the economy run by idiots".....Yes it is.
because we have in government,, "career politicians", who've never run a real business in their lives. On the one side we have a bunch of cosseted windbags out of Eton, on the other, an opposition Party currently led by over-idealistic fools (often with a privileged education background) still existing in a kind of 60's marijuana haze, and relying on the poor staying poor to justify their own existence.
In short.....you couldn't make it up!