Covid-19 unleashes the economics of chaos

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The Covid crisis has led to lockdown measures which have produced big declines in economic activity across the world. Britain has suffered the worst declines of any major economy. In the second quarter of this year, April to June, the British economy shrank by 20.4 percent, the worst slump by far since records began in 1955 and twice the decline in the US economy. There are two reasons why the British economy has suffered much more than others, both of them due to deliberate policies of Conservative governments.

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