David Howell on the need for Democratic Capitalism

 Former energy secretary (Lord) David Howell has a very interesting piece on "The Article" called  "Democratic capitalism: a Tory rescue plan."

He argues that "Capitalism needs renewing – fundamentally. This demands moves, and the turbo-boosting  of already existing trends, which sit above almost all the ideologies of the past, and the tired partisanship which goes with them.. It means thinking the unthinkable; it requires courage and holding tight to the  handrail as we go  forward.

"In its modern state the capitalist system we have now is not the ally of democracy it should be, it is not working the way it used to, it is not the partner of either justice or fairness and it is not safe or stabilising.  Its defenders are mostly hopeless, locked in silo thinking, using yesterday’s arguments and facing in the wrong direction. The old adage – that capitalism will carry on enriching  some, but benefit all through higher wages and salaries, no longer stands. We need – the world needs — new ways of  bringing the benefits of capital asset ownership, not least the security and dignity they endow, to millions of families living on the knife-edge of weekly wages or monthly salaries."

I recommend this article which you can read in full here.

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