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Stuttering economy betrays ever-present crisis in capitalism
A general view of the Bank of England in London
WHEN an economy shrinks, as did the British economy last month, it triggers an alarm bell to all those who live not by their labour but by ours.
Among the proximate causes of this threat to profitability is the Bank of England's so-called anti-inflation policy which has jacked-up interest rates to a high not seen for nearly two decades.
Sterling has weakened against both the US dollar and the Euro. The Office of National Statistics reports that Britain's Gross Domestic Product fell by 0.3 per cent, just one expression of wage growth slackening.
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