The Economic Literacy Here Is Impressive

The active investment portfolio will feature a diversity of investments. The diversity will be across a number of dimensions – enterprise size, type (joint stock companies, partnerships, co-operatives, social enterprises etc),

A co-operative that takes outside equity investment – as with a partnership – is no longer a cooperative, is it? It’s now a capitalist enterprise, for it has taken outside capital.

15 thoughts on “The Economic Literacy Here Is Impressive”

  1. No, that means ‘We’ll give your money to our mates ‘social co-operative’ and you can go whistle for ever getting it back’.

  2. The interesting question is what sort of nutcase is he? Schizo? Bipolar? …

    I wonder what his ex-wife diagnosed.

  3. To be fair, this isn’t actually Ritchie’s. It’s by Jim Osborne; although he does seem to be every bit as detached from reality as Ritchie is, so I can see why people are confused.

  4. @dearieme

    For a change, this particular economic illiteracy is from a ‘guest speaker’ on Spud’s website.

    Spud, meanwhile is bewailing BoJo’s off-the-cuff joke about greed.

    Spud is obviously not greedy himself. Sat in a mortgage free house and earning 2 or 3 times the national average, he isn’t asking other people to send him more money because he is greedy. No sir! He needs it for his video blogs. Which he hopes to monetise somehow.

  5. @ aaa

    Both Osborne’s and Spud’s “plans” are of the “if you could make friends with a lion it wouldn’t attack you” variety. They start with, or include, propositions which are totally bonkers but which they take as gospel and then go and build magnificent edifices of consequence based on those which they then use to attack opponents.

    “A friendly lion would never eat your child”

    – “it would be idiotic to think you could make friends with a lion”

    “So you’re in favour of having your child eaten by a lion!!!”

  6. A point I made about the NHS. It runs on capitalism. Where did the money come from to build that hospital? From the people who use it? No, they borrowed the capital to create it from somebody else. Contrast with my town’s cottage hospital built in the 1920s. Where did the money come from to build it? From the people of the town who were its users.

  7. Yes this pension gibberish over the last few days comes from a guest blogger rather than Murphy instead. Some fellow took it apart but Spud obviously banned them.

  8. Dennis, Hunting Tigers Out In India

    “A friendly lion would never eat your child”

    There is no such thing as a friendly lion. They are undomesticated. If it doesn’t eat you or your child, it is only because it is sated.

  9. I wonder if there is any research on how diversification through enterprise size and ownership model works in practice. The practical difficulties of valuing part of a partnership or co-operative are mind-boggling enough (reporting standards and timing etc) but most diversification works through industries and geography rather than these particular dimensions. Is there any reason to suppose that they would give good results? The cynical person would suggest that there is probably tax dodging at work, as in the case of the Guardian

  10. In the “greed” post, he makes the claim that AZ faked their test results. Libellous?

    Someone care to store that web page for posterity?

  11. Ah I see that the writer has taken a reasonable model and spudded it into stupidity on stilts. I particularly loved this gem

    The risky nature of venture capital is balanced with revenue rich infrastructure such as housing and renewable energy

    Just wait till we stop subsidising unreliable sources of energy and watch the returns fall through a galaxy-sized crater

  12. @Dennis, Hunting Tigers Out In India – a bit like a dictator can be sated every now and then but nannying fusbuckets never ever give up in the moral superiority.

    “Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron’s cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.”

    ― C. S. Lewis

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