Unemployment Rates

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(Adjusted for Comparability)

Source: U.S. Bureau of United States Ital Britain France W. Germany Japan 1973 IV 1974 1975 Steel Corporation (44,000 being els can lead to a rapid ceiling on - 7 the growth of domestic consumption.

It is significant that all these truths, which had long since been developed in the Marxist critique of Keynesian and neo-Keynesian conceptions, have suddenly been discovered by bourgeois economists in the midst of a generalised priming' measures of most the imthe desired effects within the time - 3 economy will probably not take place until well into the first half of 1976, perhaps not until the third quarter of 1976.

remain sceptical about short-term prospects for an upturn. Only a rise in investment can sustain a The Economist (3 January 1976). The question is, "will they get it? demanded). In this event, the persistence of high unemployment lev1976.

recession. The inflationary pumpperialist governments have not had lapses counted on. A real general upturn of the international capitalist ters of 1975 Even in the US most capitalists.

lasting recovery. And nowhere has the present mini-recovery been due to such a rise, write the editors of

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January 1976 World economy 7