At the root of our economic problems is the bankruptcy of a political idea: that an individual\’s drive to get rich is also an engine of social progress;
I\’m not convinced that anyone has ever even imputed that let alone made it the cornerstone of a political idea.
The individual\’s drive to enrich themselves is certainly accurately defined as the root of all economic progress. But no one is silly enough to conflate the albeit important subject of the economy with society as a whole.
Just when we needed politicians to express moral lessons from the economic crisis – the idea, for example, that financial reward should be linked to social contribution,
And that\’s the illiberal bit. Once we start to wander away from the measurable economic stuff and into the mushiness of "social contribution" then we find that someone, somewhere, has to be the measurer of what that contribution is. And then the awarder of that financial reward.
The income of everyone in the country determined by the social workers over a plate of mung beans.
Erm, no, I think not. I\’ll stick with the iniquities and horrors of a market economy if I may.