THE most exciting, if also the most troubling, change in British politics in recent years is the rebirth of ideology. During the Blair-Brown-Cameron years, political debate was imprisoned in the gilded cage of economic and social liberalism. Today that cage lies in pieces, smashed by the triple hammer-blows of the financial crisis, Brexit and Jeremy Corbyn, Labour’s socialist leader. Britain is consumed by fundamental arguments: about the role of the nation-state in a global economy; about the costs and benefits of immigration; and about the merits of capitalism.
Surprisingly, the most wide-ranging discussion of capitalism is taking place on the right. On the left, Mr Corbyn has imposed strict rules on the debate. On the right, anything goes: Tories have taken to quoting Yanis Varoufakis, a hard-left Greek economist, and Robert Reich, a soft-left American academic who once worked in the Clinton administration and author, most recently, of “Saving Capitalism”. Peering through the…Continue reading