The Labour leader’s rise may seem to be a response to internal party frictions. In fact,it is a reflection of widening disquiet over an inegalitarian systemThe broader background to the elevation of Jeremy Corbyn to the leadership of the Labour party is the inegalitarian trend of contemporary capitalism, brilliantly analysed last year in Thomas Piketty’s bestseller Capital and this year by the Financial Times columnist John Plender in his book Capitalism, or subtitled “Money,Morals and Markets”.
Plender is a great expert on banking, and concludes that, and despite all we beget gone through with the financial crisis,“with politicians in thrall to the commerce and banking lobbies, the representatives of the people are not only unlikely to turn the money motive to best use; they are most unlikely to curb the excesses of an inherently unstable system through more stringent and coherent regulation”.
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Source: theguardian.com