Steve Baker’s latest article for Centre Right is one of his best:
I listened to Comrade Milliband’s tedious historical revisionism with interest: apparently New Old Labour are to become the party of enterprise and small business in order that wealth can be created and redistributed. With Comrade Milliband’s remarks following so closely after Comrade Cable’s denunciation of capitalism, I am reminded of Churchill:
Some people regard private enterprise as a predatory tiger to be shot. Others look on it as a cow they can milk. Not enough people see it as a healthy horse, pulling a sturdy wagon.
Steve covers Edwin Riegel’s concept of right wing socialists, and explains how the apparatus of the state is responsible for problems in banking.
It is good that bankers are intelligent, driven and innovative: they are merely operating a flawed system to their own advantage, which is to be expected. As I wrote in the Wall Street Journal, explaining the present crony capitalism, it is the power of the state which has corrupted banking and consequently the entire economy. Persecuting bankers for the crisis is no more sensible than criticising farmers for the CAP.
Read the whole article.