> Nor can austerity or the hangover from the financial crisis explain Britain’s malaise. The financial crisis was at least as turbulent in the United States as here.
Yes it can. For the UK the financial sector was a dramatically important one, more so than practically for any other major country. London was the undisputed financial center for whole Europe and beyond, a legacy of Empire days, the pound as reserve currency etc. This had serious distorting effects: Abysmal center-periphery inequalities; the fatal attraction of talented people to lucrative but mostly pointless financial engineering games; the neglect of "bricks and mortar" etc.
The financial crisis and Brexit demolished this fragile, hyperconcentrated economic posture. Not in the sharp and seemingly recoverable fashion that, e.g., COVID damaged the tourism industry of various countries but in a chronic, gentle decline kind of way.
In the long-term one would think that the immense cultural heritage of Britain across pretty much the entire knowledge spectrum would somehow translate into a way forward. But as we increasingly get to know all too well, the problems of modern societies are self-inflicted and they reflect fundamental breakdowns of social contracts. Yes, despite what that British lady said, there is an emergent phenomenon called "society" and if you deny its existence you will get devoured by demons of its own creation.