What happened to the economic recovery in the West? The case of the UK

Did the crisis mark the beginning of a new down-swing in capitalist development? If not, why was the economic recovery so slow?

Submitted by Johnny on November 28, 2015

In this article we focus on the failure of the economic recovery to take hold in the old capitalist heartlands by examining the case of the UK economy. We will argue that the failure of the economic recovery in the UK cannot be sufficiently explained by conjunctural factors such as the imposition of austerity measures or the impairment of investment due to the impairment of banking in the aftermath of the banking crisis, and that more long term structural factors that have come to fore since the crisis may be more important.