There’s a tendency to bemoan our own economic shortcomings while turning a blind eye to the errors of others
by Allister Heath
Britain has always excelled at self-flagellation. Our economy certainly has many faults, and it is a sign of national self-confidence that we are so keen to discuss endlessly how to address them. But we are not the only ones to face immense challenges, and it is a bizarre legacy of the declinist 1970s that so many people in the UK are so willing to believe that other economies are doing better than our own.
Take the recent false narrative that the eurozone was undergoing a rebirth, fuelled in part by a temporary growth spike in the first quarter. The most recent second-quarter GDP figures shows it expanded by just 0.3pc in the second quarter, against 0.6pc for the UK.