Modern capitalism needs an opponent. It needs Jeremy Corbyn
The broader background to the elevation of Jeremy Corbyn to the leadership of the Labour party is the inegalitarian trend of modern capitalism, brilliantly analysed last year in Thomas Piketty's bestseller Capital and this year by the Financial Times columnist John Plender in his book Capitalism, subtitled "Money, Morals and Markets".
Plender is a great expert on banking, and concludes that, despite all we have gone through with the financial crisis, "with politicians in thrall to the business and banking lobbies, the representatives of the people are not only unlikely to turn the money motive to best use; they are most unlikely to curb the excesses of an inherently unstable system through more stringent and coherent regulation".
There are indications that a growing number of Conservative MPs are becoming concerned about the impact of austerity
Continue reading...