What is a “Red” Tory?

Out of nowhere, Phillip Blond has created a think tank which has hit the headlines all over the world: ResPublica.

See here for example: The Problem With Phillip Blond: He’s Wrong About Markets.

Blond appears to be David Cameron’s poster boy, his court intellectual so we are told. Like Karl Marx before him, he has argued that the free market has led to the development of monopolies. In addition, he has attacked our successful retailers, suggesting that communities should have the power to block such giants and that they should be compelled to stock local produce.

He is devoid of any demonstrable economic knowledge so far and we hope this is not a sign of things to come. People interested how the market works may like to read Anthony Evan’s and my submission to the Competition Commission Inquiry some years back into “Tescopoly:” Are Tesco acting competitively?.

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