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Economy

The myth of decoupling: emerging economies hit a wall

When the current crisis began, there were some who painted it as simply a Western crisis; a crisis that was unique to Europe and America. The theory of a “decoupled” world economy was put forward, with the senile, crisis-ridden West on one side, and the dynamic and growing "BRICs" and "emerging" economies on the other. But now growth in the BRICs is slowing, emerging economies are facing their own crises, and this theory of decoupling is being seen for the myth that it always was.

Poverty amidst plenty: inequality, imbalances, and the worldwide crisis of capitalism

The global economy is now in its fifth year of crisis. Living standards for the vast majority have been steadily getting worse, with falling real wages and a complete dearth of jobs. Despite this, profits for the biggest companies continue to rise. Adam Booth examines the gaping and growing inequality in the society.

"Help to Buy" and the UK housing crisis

As part of the recent Annual Budget, George Osborne, the Tory Chancellor, announced government plans for a new “Help to Buy” scheme, aimed at increasing the number of residential property purchases. Far from solving Britain’s housing crisis, Osborne and the Coalition have helped to create the conditions for yet another bubble that will undoubtedly burst. Adam Booth looks at the housing question in the UK and latest government policy.

Budget 2013: doom and gloom

Despite his best attempts, George Osborne, the British Chancellor, could not hide the doom and gloom of the UK economy from his annual Budget, given on Wednesday 20th March. Figure after figure highlighted the dire straits that the economy is in, and Osborne’s announcements only added further misery for working people and the poor.

Austerity isn't working: socialist policies needed

The credit agency Moody’s has stripped Britain of its triple A credit rating, humiliating the coalition government. It comes on top of news that the UK’s economy shrank in the last quarter of 2012, whilst the other two main credit agencies have the UK on “negative watch”. All this increases fears of the British economy heading for a triple-dip recession. The austerity programme has failed and it has to be changed.

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