Capitalism has not failed. Capitalism has not recently been tried (Daily Telegraph)

James Delingpole blogs for The Daily Telegraph on Tim Morgan’s recent CPS paper ‘The Quest for Change and Renewal‘. 

“If Britain is ever to recover from this economic mess it needs a compelling ideological vision. That’s the message of a brilliant new report produced for the Centre for Policy Studies (the think-tank that launched the Thatcher revolution) by economist Tim Morgan (of the excellent Tullett Prebon)”

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“No, capitalism has not recently been tried: that’s the real problem. And what I particularly like about Morgan’s report – well worth reading in full – is that it addresses this extremely important point. What we’re experiencing around the world at the moment is not  laissez-faire, self-correcting, authentic, free-market capitalism but an excedingly corrupt and bastardised form thereof.

What we’re seeing is a grotesque stitch up between the banking class, the corporate class and the political class – at the expense of the rest of us.

One day, I like to hope, those of us on the libertarian right will find common cause with (at least some of) the Occupy crowd and unite against our real enemy.

Could such a thing happen? Well not under this administration, clearly. Cameron’s Coalition is so obviously toast you could spread it with butter and eat it with kippers. But as happened with the Thatcher revolution, so it must be with any future one. Before the political battle takes place first the intellectual groundwork must be laid.

Tim Morgan’s report is an excellent starting point, a flag around which those of us who believe in small governments, free markets and true liberty can rally. We’re a long way from 1979, unfortunately. We’re currently in the middle of the Heath administration. My bet is that it won’t be before 2020 that we finally see the government with the ideological mettle to do the right thing. Till that happy day, I’m afraid, the prospects for UK Plc are looking distinctly bearish….”

Read the full article at The Telegraph website.

Date Added: Monday 11th June 2012