Economía marxista para el Siglo XXI

Britain is booming?

Michael Roberts Blog

In my recent post on the US economy (, I poured some cool water on the consensus view that the US economy was set to accelerate its expansion this year. The US GDP figures for the first quarter of 2014 were very weak (although they will probably be revised upwards) and the stronger headline jobs figures released on Friday hid the continued high number of Americans who want a job but have given up looking, as well as those taking low-wage work as better than nothing.

But if we turn to the UK, the current talk is how things are looking way better. Most mainstream economists reckon that it’s all over and Britain is now on a sustainable path of growth.  Indeed, the IMF reckons that of the top seven capitalist economies, the UK will grow the fastest this year. Last week, the UK manufacturing activity index was…

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