George Osborne announced that the British economy “has turned the corner”. Cameron has chimed in to hail the new “recovery”. But after years of stagnation and falling living standards, who are they trying to kid? The economy is crawling on its belly and we are still being hit with mass unemployment and wage cuts. Rob Sewell, editor of Socialist Appeal, looks at the crisis-ridden state of capitalism in Britain and worldwide.

The serious bourgeoisie are worried by evidence of a long term inability for capitalism to provide growth, jobs, and a decent standard of living – i.e. to develop the productive forces. An increasing number of mainstream commentators are now seriously questioning whether our ability to innovate – to develop science and new technologies – has fundamentally slowed down. Adam Booth looks at the question of technology and innovation under capitalism.

Despite the reality facing millions of low paid workers, we are again faced with a barrage of propaganda about the British economy “turning the corner”. All this talk of “recovery” is hot air. There has been no bounce back to “normality”. In fact, there is a “new” normality, one of on-going austerity and mass unemployment, condemning a new generation to the scrap heap and a life of despair.