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Opinion: “Capitalism is a great success story.” Really, Nick?

On Monday, Nick Clegg gave a speech on responsible capitalism. This was his first real foray into the debate since it has erupted as a major talking point, even though we as a party have been arguing the need to reform capitalism before it was cool.

Before criticising capitalism, he praised it by saying this:

Capitalism may be today’s political punchbag, but let’s take a long view: it’s one of history’s great success stories. No other human innovation has driven progress  and raised living standards so consistently. Markets catalyse ideas, invention and experimentation. When they work well, they are meritocratic and

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Posted in Op-eds | Also tagged , , , , , , , , and | 35 Comments
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Recent Comments

  • Jonathan Parry
    This is an interesting article. One Nation Toryism never got going until the demise of the Liberals in the 1920s (Disraeli certainly never practised it). To t...
  • Peter Davies
    In Latin it may be a gerund but in English it's a noun. If I were to object to the Government's referending of the public, that would be a gerund....
  • Alex Macfie
    Except that "referendum" is not a Latin 2nd Declension Neuter noun. It's a gerundive; as such it is used in English differently from Latin so should take an Eng...
  • PM
    @ PM, It can be either. I do remember from my schooldays that the plural in Latin involved replacing the 'um' of a neuter noun by an 'a'. I must have managed...
  • Alex Macfie
    It's "referendums"....