Nick Cohen blames the left…so do I.

David Davis

In the Observer, he analyses how it all came about.


But to explain, perhaps, to other libertarians, why I have seemed to be praising what seems to be a lefty writing somethng, I ought to have included the link to Coffee House where his article was summarised. here’s part of what he meant:-

“the paradox of the 1997 Labour government was that it was at once a left- and a right-wing administration. It wanted a huge public works programme. It aimed to redistribute enormous amounts of wealth. To achieve both these desirable goals, it made a bargain with the markets. All right, the political left said, we will accept extremes of wealth we once denounced as obscene. With the City accounting for a fifth of the British economy, we will embrace your speculators and not drive them overseas with tough regulation. If the authorities overseeing the Wall Street markets or the Frankfurt bourse become too inquisitive, capital will always be able to find a sanctuary from scrutiny here. Nor will we restrict the operations of financial services even though they are entrapping our supporters in levels of debt that the puritan in us finds frightening. We will concede all this if in return you will give us the tax revenues that will allow us to build the new schools and hospitals, and increase the incomes of our struggling constituents. For all its virtuous intentions, the political left was living off the proceeds of loose financial morals. Prostituting itself, to be blunt.”


  1. But he seems to be blaming the left for not being sufficiently anti-freedom:

    “And so in an unprecedented manner, and with not wholly bad intentions, the left in power went along with a lawless market, and only after it went down did it show the flair and boldness of true social democrats by taking over much of the banking system. ”

    Nothing to see here, Cohen’s just another commie ranting about lawless markets.

  2. It is an old English saying, that the poor want good laws, while the rich want no laws at all…

    For a lyrical impression of America before the Great Crash in 1929, see:

    Ray Bradbury’s “Dandelion Wine.”

    which you can borrow online (along with thousands of other great books) from:

    The Burgomeister’s Books


    Years of wonderful reading!

    Great Books you always wanted to read!

    Don’t say I don’t think of you…



    PS: Oh, and the free “Opera” browser (the best!) will read them aloud to you by the fireside… http://www.opera.com

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