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Laying Pipe on County Poor Farm, 1933. Picture: Seattle Municipal Archives

Some governments tried to build their way out of the last depression—what about this one? Picture: Seattle Municipal Archives

Surprise surprise, the British economy continues to languish. George Osborne hoped that demonstrating the seriousness of the government’s commitment to fiscal probity would unleash the animal spirits of the business community, and the ensuing upsurge of investment and exports would bring us to a new age of prosperity. It hasn’t worked out that way.

We continue to suffer from a lack of demand.…

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