British PM Confuses Capitalism with Government Intervention

06.10.2016 • Politics and War

From Kris Sayce – Port Phillip Insider (Australia) –

The easiest way to amuse us is to blame capitalism for something which is not capitalism’s fault.

Earlier this week, the name of the new UK prime minister, Theresa May, cropped up in conversation in these pages.

Well, Ms May has caused herself to become a target once more. We quote from the Financial Times:

In a speech steeped in rhetoric about the role of the government to bear down on irresponsible capitalism, the prime minister said she would tackle “unfairness” wherever she found it, from tax evasion to high household energy bills.

Our point on this is simple. There is no such thing as ‘irresponsible capitalism’. There is no such thing as ‘responsible capitalism’ either.

There is only capitalism. That’s it.

The thing that politicians, bureaucrats, and statists like to criticise isn’t capitalism. And no, this isn’t just a matter of semantics. It’s a matter of getting a crucial distinction right.

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