Productivity Growth Has Been Appalling Again

The response to the inflation surge by the UK government has been disastrous for working people. Pushing up interest rates, attempting to keep pay rises down, and trying to cut pensions and other benefits, has exacerbated the devastating cost-of-living crisis. The true causes of the crisis have nothing to do with workers asking for pay rises. Rapid inflation was sparked by a combination of global economic instability, profound weakness of production, and corporate profiteering. The result is a massive transfer of wealth upwards – from working people to the super rich. It is time for a radical economic alternative. Listen to the audio from the book-launch event for The Cost of Living Crisis (and how to get out of it)by Costas Lapavitsas, James Meadway, and Doug Nicholls https://www.versobooks.com/books/4259-the-cost-of-living-crisis Featuring Costas Lapavitsas, James Meadway, and Laura Smith: Labour Party (personal capacity).