Saturday, August 03, 2013
Actually, they did tell me all of this when I did A level economics in the 1970s
This is nicely written - very clear, ordinary language, not an equation or a diagram in sight. It's not by any means anti-capitalist. HJC says 'capitalist is the worst system apart from all the others', and he clearly means it. This view is not really examined, and there is no real consideration of any of the alternatives, apart from the way that the USSR tried to do socialism. There isn't even a proper evaluation of that.
Still, it does at least point out that there are other ways of doing capitalism, and that there is some theoretical justification for this within economics as well as from ethics and politics. Perhaps some New Labour policy wonks will read on the flight over for their next fact-finding trip to America, and perhaps something will seep in and remain next time they have to write a briefing paper. Perhaps.