Magazine
Latest Issue

How to save the economy

Accelerate investment in local areas—and deliver an employment guarantee

By Robert Skidelsky  

Daniel Karmann/DPA/PA Images

The Covid depression, as it will surely be known, will be the deepest and at the same time strangest economic downturn of the post-war era. The OBR’s central forecast is that GDP falls 12.4 per cent this year, and unemployment rises from 1.3m in 2019 to 3.5m in 2021, with unemployment peaking at 12 per cent. Worst case scenarios are too horrible to contemplate.

This is also the strangest recession, since it will have been precipitated by a collapse of supply, not demand.

In the…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect