George Osborne has no idea how to rescue the economy - Will Hutton

ruggedtoast

http://www.guardian.co.uk/commentisfree/2011/dec/04/will-hutton-george-osborne-clueless

Even for battle-hardened observers of the British economy, the landscape portrayed by last week's autumn statement was shocking. Now there is official acknowledgment that a country burdened by bank assets five times its GDP and chronically poor productivity is being dragged into the deepest and longest economic setback in modern times – with awesome implications

Britain has to answer the riddle about how to make its living in the world with no soft options – with a grossly unbalanced and underperforming economy.

What are the 2,800 bankers in London estimated to be earning more than £1m a year doing to deserve such rewards? ... Why does the British private sector provide so few jobs, so little growth and so little innovation, but so much reward for those at the top? Is the sole purpose of government only to reduce its debt?

The only way forward is a good capitalism that solves these hard questions, commits to investment and innovation and builds new institutions that share the risks of entrepreneurship and of life, led by an enterprising government with a bigger conception of its role than debt reduction. Nor can Britain allow itself to become disconnected from the continent to which we are bound by geography and history.

CLAPTON

good old Will, still wants to join the EURO

ILW

Will Hutton is rather left wing and does not like capitalism at all really.

ruggedtoast

ILW wrote: »

Will Hutton is rather left wing and does not like capitalism at all really.

Whereas you are rather right wing and therefore do not like Will Hutton at all really.

Who is right?

Jennifer_Jane

I've become more and more right wing as this economy has flat-lined (thanks for the visuals, Ed and Ed in Parliament every PMQ), so I'm with ILW on this - cannot think of anything that Will Hutton has said (ie on 'Questiontime') that I've agreed with.

ILW

ruggedtoast wrote: »

Whereas you are rather right wing and therefore do not like Will Hutton at all really.

Who is right?

If by right wing you mean I believe that people should endeavour to support themselves and be rewarded for their efforts, I guess I am.

I do seem to get more right wing as i get older, not sure whether it is due to experience or disillusionment though.

CLAPTON

I don't think the issue with Hutton is that of right or left wing; it's just that he talks a load of rubbish platitutes: obviously we would all like this if we new what it meant....

quote : ....... good capitalism that solves these hard questions, commits to investment and innovation and builds new institutions that share the risks of entrepreneurship and of life, led by an enterprising government with a bigger conception of its role than debt reduction


the issue is how we achieve this: (and 'hint' it isn't by joining the EURO)

ILW

CLAPTON wrote: »

I don't think the issue with Hutton is that of right or left wing; it's just that he talks a load of rubbish platitutes: obviously we would all like this if we new what it meant....

)

Think he makes a pretty good living out of it though.

grizzly1911

Whilst he leans left having read an listened to alot of his stuff and he offers more common sense rationale for a "balanced" society than the messages from the right IMO.

A lot of his stuff is based on a reflection of past historic mistakes and lessons learned. What has worked well and what hasn't.


Too much time is spent reinventing the wheel and with heads buried in macro figures than actually standing back and looking at the whole picture. There is far to much self interest - nobody can live through life purely though their own endeavours. That goes for the less fortunate right through to the richest oligarch.

Dog eat dog doesn't make for a civilised world.

ChiefGrasscutter

"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!"

Quote from US authour Upton Sinclair 1878-1968

ILW

grizzly1911 wrote: »

Dog eat dog doesn't make for a civilised world.

Neither does encouraging your neighbour to breed Rotweiller, Pit Bull crosses either. Which we do seem to do as a nation.