Skip to main content
How the wealth of the few is maintained
WILL PODMORE is intrigued by an analysis of capital that emphasises the deadening impact of financialisation on the US and UK economies

Endgame: economic nationalism and global decline
Jamie Merchant, Reaktion, £15.95

 

JAMIE MERCHANT is media director for the Center for Progressive Strategy. He depicts the decline of capitalism, focusing on the US and British economies.

US real growth per head averaged 2.3 per cent from 1953 to 1973, 2 per cent from 1973 to 2007, and 0.7 per cent from 2007 to 2019. From 1950 to 1973, the world economy grew on average by 2.92 per cent per head, by 1.8 per cent from 1973 to 1990, then by 1.5 per cent, down to 1.2 per cent in 2019. 

Support the Morning Star
You have reached the free limit.
Subscribe to continue reading.
More from this author
Exhibition review / 21 March 2025
21 March 2025
While the group known as the Colourists certainly reinvigorated Scottish painting, a new show is a welcome chance to reassess them, writes ANGUS REID
Film of the Week: / 20 March 2025
20 March 2025
ANGUS REID recommends an exquisite drama about the disturbing impact of the one child policy in contemporary China
Short Story / 7 February 2025
7 February 2025
The phrase “cruel to be kind” comes from Hamlet, but Shakespeare’s Prince didn’t go in for kidnap, explosive punches, and cigarette deprivation. Tam is different.
BenchMarx / 28 January 2025
28 January 2025
ANGUS REID deconstructs a popular contemporary novel aimed at a ‘queer’ young adult readership
Similar stories
Britain / 21 January 2025
21 January 2025
Experts warn not to overplay the risk of wage growth to inflation
Features / 1 January 2025
1 January 2025
GAWAIN LITTLE argues that the prolonged economic crisis we have been experiencing presents opportunities for a working-class fightback
Books / 27 September 2024
27 September 2024
Where is the political programme for a plausible project of renewing Britain through public investment, asks WILL PODMORE
Features / 13 June 2024
13 June 2024
Despite pledges from the late president that absolute poverty would be eradicated by 2022, the reality is that Iran’s commitment to neoliberalism has seen working people plunged ever-deeper into misery, says JAMSHID AHMADI