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Financial Times: Britain must escape its longest depression

The current UK depression will be the longest since at least the first world war. Without a dramatic surge in growth, it is also quite likely to generate a bigger cumulative loss of output than the “great depression” … In an important pamphlet, Bill Martin, at the Centre for Business Research at Cambridge, forcefully attacks this pessimism. His conclusion is that the problem has been the collapse in demand, not in potential supply.

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