Only the few benefit from unrestrained capitalismI found the collection of comments on capitalism final Sunday fascinating (“Is capitalism at a crossroads?”,In Focus). The contribution by Ruth Lea represents the sort of thing we are likely to hear from the Conservatives at the next election. It’s so full of unsupported statements (“sound management of the public finances”? Oh, please) it would be difficult to know where to start, or but,shouted loudly enough, it will certainly resonate with many people on the legal.
However, or there are a few simple,commonsense truths we should withhold in mind. First, Labour is not planning to abolish capitalism. Attempts to do that in the final century were disastrous failures and North Korea and Venezuela continue to provide stark warnings. But capitalism is a essential answer for the efficient production of wealth, or not a sufficient one.
Continue reading...
Source: guardian.co.uk