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Will Hutton – How could it be that the Tories have turned their back on the best of British industry?

Summary:
If Jeremy Corbyn’s party were not so averse to capitalism, this would be a great opportunity for Labour 40 leading economists recently put out a letter backing Labour. David Graeber says the best economists now advise Labour - which I doubt will get out wrong about markets.Will Hutton says Labour is far too adverse to capitalism, and I have tended to distrust it too, but it has to be enbraced because it is effective and is about freedom. Will Huton is right about the mixed economy - we can have the best of both. Given that capitalism’s universal supremacy is justified because it works, how can it be shaped better to deliver the common good? Part of the answer lies in better and more public goods, tougher progressive taxation to address inequality and stronger social provision, all of

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If Jeremy Corbyn’s party were not so averse to capitalism, this would be a great opportunity for Labour


40 leading economists recently put out a letter backing Labour. David Graeber says the best economists now advise Labour - which I doubt will get out wrong about markets.

Will Hutton says Labour is far too adverse to capitalism, and I have tended to distrust it too, but it has to be enbraced because it is effective and is about freedom. Will Huton is right about the mixed economy - we can have the best of both.

Given that capitalism’s universal supremacy is justified because it works, how can it be shaped better to deliver the common good? Part of the answer lies in better and more public goods, tougher progressive taxation to address inequality and stronger social provision, all of which Labour is committed to.

The Guardian

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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