The left must be bold and back a green new deal | Larry Elliott
Progressives were caught napping by the financial crisis. They cannot not be as ill-prepared next time
It's often said that real change takes place at a time of crisis, but that's not the whole story. A crisis makes change possible, but only when new ideas are knocking about does it actually happen. Otherwise, it is soon business as usual. The US economist Milton Friedman understood that fact, which is why he toiled away in the political wilderness to plot the downfall of postwar social democracy and was fully prepared when trouble arrived in the mid-1970s.
The left was so in thrall to market forces and globalised capital that it blew a golden opportunity in 2007
Related: UK personal insolvencies hit seven-year high; US consumer confidence slumps - business live
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