A Shining City Upon A Hill: Rebooting Capitalism for the Many, Not The Few

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Britain’s economy isn’t working properly anymore. In the wake of the 2008 banking crash, and in the face of new digital challenges and disruptive technologies, it simply isn’t delivering the goods. Wage growth has been anaemic for most of us, while a few have become extraordinarily rich. Too many of life’s basic, unavoidable essentials (like housing, energy, water or transport) either don’t work properly, or are so expensive they’re rip-offs. The system feels rigged; stacked against hardworking families by a complacent, comfortable, out-of-touch global elite.

This paper by John Penrose MP calls for Capitalism to be updated, modernised and rebooted.

(5) Comments

  1. Pingback: May should set her sights on the crony capitalists - UnHerd

  2. hello John,
    I like your paper, ‘A Shining City Upon a Hill’, and agree that Capitalism needs fixing. One way to end great inequality in business is surely to stop business owners taking dividends or a bonus rather than a salary on which they can be taxed fully. I worked previously for a company run by one man who paid himself in dividends worth £150k, but he gave his staff only £150 each (but no pay rise, and none for the last 3 years). His act was resented and caused disquiet amongst the workforce, but he was quite within his rights to act as he did.
    Our elder son works in the City and has a healthy sum saved for house purchase, but the flats in London are out of his reach. The answer is that we must build more houses, even if this means building on green field sites.
    I agree with you that if we do not change Capitalism, we risk Jezza getting in and ruining the economy for years to come, and no one wants that.
    br,
    Stephen Croft

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  3. A friendly reminder that NOT all hard-working people have families! I’m single, for a start, and work both nearly full-time at a supermarket and as a private tutor. I wonder if the phrase ‘hard-working people’ or simply ‘hard workers’ would be more appropriate?

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  4. Lots of good words and spin but no substance. The UK has no natural resources, it relies on exports to bring money into the country to pay for wages /salaries and services etc that people want ( only 3% to 4 % of the UK population are employed in wealth generating jobs/industries), The welfare system and NHS are unstainable and unaffordable in their current forms. Perhaps what is needed is a national salary band system for jobs/professions . ex why allow football players and people working entertainment etc to be paid such huge salaries, whilst wealth generators such a scientists, physicists, professional engineers etc are paid relatively low salaries. At the end of the day all a footballer does is kick a ball around a field, we should not be importing footballers but productive and industrial professionals.

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  5. All very well to criticise, but in a word, what is the solution? Socialism/communism has been proven not to work and “Corbynism is Crap”.

    Give us a hint?

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