The problem – a very big problem indeed – for capitalism at its present stage is that demand is flat, or falling. That underlying pattern has existed for the past 40 years, since the demand for continent-wide reconstruction after the Second World War gradually petered out in the 1970s. Thereafter the flatness of demand was […]
Posts Tagged ‘Demand’
It’s lack of demand, stupid!
May 27th, 2013 by Michael Meacher.Even the IMF is now insisting that growth must have priority over continuing austerity, but neither the growth-sayers nor the austerians have yet recognised that the fundamental problem for post-crash capitalism is lack of economic demand. Equity markets have surged in recent weeks, not because the real economy is recovering, but because central banks – the […]
A budget that ignores reality: ideological and macro-economically hollow
Mar 22nd, 2012 by Ann Pettifor.Since 2009 the economy has struggled to recover from the mire of a slump caused by the banking sector. But each time economic activity quickens, it hits a series of buffers. These buffers are well known , but denied by the Chancellor: a vast overhang of private debt now slowly being de-leveraged; a banking sector […]