How strange that we are apparently reaching the end (for now) of Labour government, just as the West is comprehensively falling out with the capitalist idea that the market is always right
First we have Anatole Kaletsky writing about the nationalisation of Freddie Mac & Fannie Mae in The Times. Then on Any Questions yesterday a suggestion that all energy should be nationalised was greeted with cheers from the audience at Davison CE High School in Worthing, West Sussex, which does not sound the kind of place to be a hotbed of socialism. (Perhaps that is a kind of slur on rural areas – remember the Tolpuddle Martyrs)
Actually such turns of the wheel are nothing new. There is not even anything new in the idea that Americans are not nearly the believers in free enterprise & government keeping its nose out as they would like us to think
And when the 1850s & 1860s, (what we think of as the heyday of Thatcherite/Victorian free enterprise), were hit by a series of economic crises & banking failures, The Builder magazine pointed out that the Post Office offered a valuable lesson in how Government really knew how to run an efficient business, entirely free of corruption
