If you are a Keynesian, or proto-Keynesian then this chart is the key to understanding the continuing flat-lining of the UK economy; the continuing crisis in 'effective demand'.

Static effective demand driven by the costs of living crisis, compounded by the draining upwards of wealth is on of the UK's key problems... and reflecting stagnant productivity.

(Household consumption is a reasonable proxy for effective demand, as it reduces the effect of top 1% consumption).

#economics #politics