…I change my opinion. What do you do, Sir?”, asked John Maynard Keynes, who if there is an afterlife, must surely be enjoying the Damascene conversion of so many unlikely suspects to his economic creed. Indeed, many seem to have gone still further, with the new ‘bash the bankers’ duo of Cameron-Osborne sounding almost Leninist with their spine-tingling threats of ‘a day of reckoning’ for the financiers and speculators.
And with the facts changing beneath their feet, Mr Osborne for one is certainly making a good appearance of changing his opinions, or at least his rhetoric:
As you yourselves know better than anyone, the success and size of your industry makes you an increasingly visible target. The GMB are trying to brand you “amoral asset-strippers”. Brendan Barber of the TUC preferred “casino capitalists”.It’s not just the unions. Alan Johnson said the GMB attack “raised some important points”. Harriet Harman wants to stop what she calls your “excessive, (more…)