A quick note on the economy

There has been much crowing on the left, including the libertarian left, over the announcement of a contraction in the economy. There has been much glee over the position this puts the Tories in, and it is true, this government’s policies have probably contributed.

We should not however let Labour and the rest of the ruling class off the hook. Economies are complex things and little happens immediately, we are bound to be seeing some effects of the last government’s policies continuing for some time.

We must not lose sight of the fact that these economic problems, which are disproportionately hitting the working class, are not simply the product of the current Tory/LibDem government, they are the product of the entire capitalist system.

It does not matter whether the Tories or Labour are in charge, the root of the issue is the same, capitalism and the state.