To think that the new economy is over is like somebody in London in 1830 saying the entire industrial revolution is over because some textile manufacturers in Manchester went broke.
Sentiment: NEGATIVE
Everybody is talking today about the economy.
The model of the U.S. economy is that we are the country that does new things.
It is clear that the economy has not gotten better for everyone.
Information from destructive activities going back a hundred years right up until today is being incorporated into the system. And as that happens the underlying framework of industrialism is collapsing and causing disintegration.
Our parents and grandparents understood this truth deeply. They believed - as we do - that to create jobs, a modern economy requires modern investments: educating, innovating and rebuilding for our children's future. Building an economy to last, from the middle class up, not from the billionaires down.
The dominant economic approach of the last thirty years is now on its last legs. Letting the market rip and an indifference to inequality are now seen as important causes of the greatest economic crash since the 1930s.
The economy has barely recovered from the so-called 'Great Recession', with a 2 percent annual rate of growth since mid-2009. Peak worker wages, business investment, and productivity all occurred around the year 2000.
You know the illusion of the cheap money is over and now Britain has to go out there and graft and earn its way and create wealth and prosperity in a very competitive world.
In short, industrialism is over.
The era of industrial Britain, where a large section of our workforce provided cheap labour in factories and processing goods, is over.