Reforming capitalism isn’t so easy | Letters

There is no simple switch that will allow us to replace the champions of neoliberal capitalism with well-intentioned workers and other public figures, writes Richard Tudway. Plus Tim Worstall on data suggesting that income inequality has decreased slightly in the UK in the last decade

Grace Blakeley makes a compelling case for reform of capitalism (No alternative to capitalism? Now workers can take control, 30 September). But I hope she sees that national assets cannot just be transferred to state, worker and community ownership. This overlooks the other indispensable ingredients if our collective bid to move from casino capitalism to a sustainable social market economy is to be realised.

As so often is the case there is regrettably little attention paid to the great achievements within the European Union in promoting better and more effective governance at every level, an inclusive corporate culture and capital markets that support long-term development. This lies at the heart of the significant social, political and economic achievements of the Rhineland economies when compared with British and American socioeconomic outturns.

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