I have written for ConservativeHome today on the problem with capitalism:

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.”

Comrades seem to understand that there is something wrong with capitalism, but they seem unable to say what it is.  Grotesque, long-since discredited Keynesianism, innuendo and ad hominem attacks fall somewhat short, in my view.

Read more here.

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