Tuesday, November 29, 2011

Memo to OWS

A Memo to OWS from Daniel Hannan:

Chatting to some Occupy protesters this morning, I was struck by how wide of the mark were the beliefs they attributed to me as a Right-winger. In the interests of deeper understanding, here are ten things which – trust me – most of the Tory scum I hang around with think. Obviously, I don’t expect to turn my Leftie readers in a single post; still, they might get a clearer idea of what we actually believe.

1. Free-marketeers resent the bank bailouts. This might seem obvious: we are, after all, opposed to state subsidies and nationalisations. Yet it often surprises commentators, who mistake our support for open competition and free trade for a belief in plutocracy. There is a world of difference between being pro-market and being pro-business. Sometimes, the two positions happen to coincide; often they don’t.

2. What has happened since 2008 is not capitalism. In a capitalist system, bad banks would have been allowed to fail, their profitable operations bought by more efficient competitors. Shareholders, bondholders and some depositors would have lost money, but taxpayers would not have contributed a penny (see here).

Read the rest here.

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