by Michal Rozworski | Socialist Project | Click HERE to read article
Most developed economies continue to experience fall-out from the financial crisis of 2007-08. The Eurozone has been most ravaged, but the U.S. and UK have not fared much better. After the initial rebound from the most severe crisis, growth in many economies has been decelerating to the point that some are once again contracting in real terms. At the same time, unemployment remains high – hitting record levels among youth in Europe for example – real incomes are flat for the vast majority, inequality is on the rise and austerity programs targeted at social services are eating further into living standards.