Defending Capitalism


Following Vince Cable's appalling anti-business rant at the Liberal-Democrat conference, I was invited to appear of the Jeff Randall Live business programme on Sky TV to defend capitalism and business. I was happy to point out that capitalism, for all its imperfections, makes rather a better job than politicians do at running business. It has been the most benign of human enterprises, generating the wealth that has doubled life spans, lifted millions from subsistence poverty, and created resources that we an spend on things like arts and education. It creates the jobs that pay the wages that government taxes, and ultimately creates all of the resources that governments themselves spend.