In the past, recessions have been characterized by a phase of destruction and creativity, with capital restoring itself through the creation of new industries and the application of new technologies. Today, capital in London has little capacity for either, and the state can no longer cover all the cracks. These cracks are now beginning to show and the social consequences of this current recession are no longer being played out below the surface. They are now very apparent and having a devastating impact on our industry and people’s lives.
