Rising East Essays

Vol 2, Series 1, No 4 March 10th 2010

London’s Economy in the Long Recession

Gavin Poynter

This essay rows against the prevailing tide of economic policy analysis. Following on from his inaugural Rising East Essay, Gavin Poynter offers further insight into the inherent and systemic weaknesses of contemporary capital and, in particular, the UK’s current form of capitalism. He begins with a brief review of the analyses offered by two of the most useful contributors on the current economic malaise, Graeme Turner and Martin Wolf. He then examines the current state of the most successful region of the UK economy in recent years, London, arguing that the strong position of the capital city and its hinterland is, paradoxically, indicative of the weakness of the UK economy as a whole. Finally, his essay concludes with some projections concerning the social consequences of what looks set to be a long recession for London and the UK. Full essay

Rising East Essays are published by the London East Research Institute (LERI).

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