[Itse]

More writings with more or less the same views.

http://www.telegraph.co.uk/news/ukne...ashes-out.html

The failure of the markets goes hand in hand with human blight. Meanwhile, the view is gaining ground that social democracy, with its safety nets, its costly education and health care for all, is unsustainable in the bleak times ahead. The reality is that it is the only solution.

After the Great Crash, Britain recalibrated, for a time. Income differentials fell, the welfare state was born and skills and growth increased.

That exact model is not replicable, but nor, as Adam Smith recognised, can a well-ordered society ever develop when a sizeable number of its members are miserable and, as a consequence, dangerous.