Friday, 20 January 2012

So our esteemed PM has spoken out about the need for morality in capitalism, here are some highlights from his speech yesterday: 

"We won’t build a better economy by turning our back on the free market...we’ll do it by making sure that the market is fair as well as free.  While of course there is a role for government, for regulation and intervention...the real solution is more enterprise, competition and innovation."

This has to be a triumph of dogma over logic if ever I heard one, whilst we are still reeling from the lack of regulation of bankers that has wrought so much damage to the world economy. That's why, despite cross-party support and a seven year inquiry into pubcos that under his leadership HMG still refuses to impose statutory control over pubcos.

"In this debate about the kind of economy we want to see, my position is clear. I believe that open markets and free enterprise are the best imaginable force for improving human wealth and happiness. They are the engine of progress, generating the enterprise and innovation that lifts people out of poverty and gives people opportunity.And I would go further: where they work properly, open markets and free enterprise can actually promote morality.Why? Because they create a direct link between contribution and reward; between effort and outcome.The fundamental basis of the market is the idea of something for something – an idea we need to encourage, not condemn."
It's a pity then that he doesn't realise how empty his words seem when pubcos continue to get something for nothing and his much cherised open markets don't exist within the pub trade whilst pubcos continue unfettered. Never has so much been taken by so few from so many with such little effort than is the case with pubcos (apologies to a truly esteemed previous PM for the pastiche).

Orwell himself would have been proud of this quasi-Adamsian doublethink!

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