@richardjmurphy, two consecutive posts


I have just taken part in a surreal discussion with Philip Blond on Radio 2.

He argued for the mutualisation of public services.

He never once said where the capital was coming from.

Then, in the very next post:

Cameron’s apologist, Philip Blond, says that the whole Big Society agenda is about the fact that the state and the private sector have failed and mutualisation is the answer. And that apparently is what Cameron is to say this afternoon.

OK then. Start with Northern Rock. And follow with RBS.

Then we’ll believe you.

So, err, where\’s the capital going to come from Ritchie?

Just giving RBS to the depositors would be a gift of £38* billion from the taxpayer to those depositors. So clearly, those depositors need to compensate the taxpayers for that £38 billion.

Where\’s the capital going to come from?

And whatever solution you offer for RBS, why wouldn\’t it work for public services?




*This is current market cap so not correct, but right about the scale of the gift.


2 thoughts on “@richardjmurphy, two consecutive posts”

  1. Good to see Murph back spouting his usual bullshit after he utterly humiliated himself over the US June employment figures two days ago.

  2. Let me think for a nanosecond – services are where people provide service through their labour; mutualisation would be where this is controlled and income/expenditure is received/paid by these workers (or, in alternative set-up by the receivers of the services, but that cannot work in UK public services because many of the service recipients have no money other than payments from the state). Where is the capital to come from? – well as far as the home help service is concerned I think the poor box in the parish church could probably manage now as it did a thousand years ago.
    You don’t need any significant amount of capital in a “people industry”. The current book value of my business assets is less than I can earn in one week.
    Some areas are more capital-intensive than me: Fire service – originally funded by the Insurance companies; Health and Education – self-funded or funded by the Church until Victorian era, with mass literacy being led by the Church.
    I am assuming (and hoping) that Mr Blond does not want to mutualise the armed services or police. So what does Murphy want capital for? Tax-collectors and bureaucrats?

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