Cameron on “moral capitalism”

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January 19, 2012 by galudwig

Speech has finished and he’s taking questions now. As expected, it was more of the same. Some interesting quotes I scribbled down as he was speaking:

We won’t build a better economy by turning our back on the market. We will build it by making the economy fair as well as free.

And “fairness” is of course only enforceable at the threat of violence by an omnipotent government.

When markets work properly, open markets and free enterprise will promote morality.

Agreed. This is why the government needs to get out of the way and stop turning a moral, meritocratic system into a crony-culture where the most powerful get privileges at the expense of the rest.

Conservatives get the market, we know its failures as well as its successes. Capitalism can slide into monopolization, we are the party that understands how to make the economy work. I see problems with markets as an opportunity to improve them.

(Quote is not verbatim, I was laughing too hard to be able to take notes effectively)

How I wish there was a genuine free market party in the UK.. And there is! It’s called the Libertarian Party

We should stand up to big business when it is in the national interest to do so.

We believe in responsible capitalism and in government that can make it happen.

Again, more of the same. This is how it really works: government intervenes to make things “fairer/better/more responsible”, they can do this, only by force, and the unintended consequences of the intervention make things worse, and then the bad effects of the first intervention are blamed on an “unrestrained market”, necessitating more intervention.

Too many people couldn’t count on their savings growing.

And inflation had nothing to do with this?

We don’t need more regulation, we need less but better regulation.

Yeah, we’ve never heard that before.

I turned off mentally at around the mid point of the speech as I couldn’t take the incessant babble about corporate social responsibility and CEO bonuses. All in all, it was a lot of hot air, a lot of collectivist arguments to use the power of the state to curb crony-capitalism, shrouded in true conservative-style pro-market rhetoric. It really made me think of Bush’s famous “I need to abandon capitalism to save it” speech. What a bunch of bollocks.


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