Tuesday, September 29, 2009

Prime Minister Brown insisted "Finance would be the Servant of people and industry, not their master."

Maybe the message is getting through, albeit a little late. The Ayn Rand thoery failed. The Financial Times:

Gordon Brown at the Labour (liberals) confurence turned his back on a “bankrupt” free-market ideology, rebranded the credit crunch as a failure of rightwing Conservative ideology, and insisted that finance would in the future “be the servant of people and industry, not their master”.

“What failed was the Conservative idea that markets always self-correct but never self-destruct. What failed was the rightwing fundamentalism that says you just leave everything to the market,” he said.

The Tories (conservatives) were wedded to a broken economic model in which markets “should not just be free but values-free”. “Faced with the economic call of the century they called it
wrong,” he said.

No comments:

Post a Comment