Is it OK to break the law if you are a Tory?

I originally commented on the description of a mixed economy as a socialist economy. It isn’t it is a capitalist mixed economy.

Those industries that are owned by the state are recognised as unique and necessary for the good of the citizens and the economy. So utilities like water, fuel etc. education and health, defence and law and order are all run by the state, but everything else is privately owned and largely run as a free market, although different governments will have different policies as various points in a states life.

Whitewavemark2

growstuff

No market is 100% free. For example, the UK has laws which place restraints on monopolies.

Yes but they operate in a free market capitalist economy, not an economy that is run by the state.

There is a difference.

Have you read the link I posted?

It's a continuum. The state intervenes all the time in the UK economy.

There are elements of socialism and capitalism in all modern economies, including North Korea.

Growstuff my sister in law lived in Peru for many years and she thought it was socialist. The people there are very poor and have little in the way of possessions.

growstuff

Whitewavemark2

growstuff

No market is 100% free. For example, the UK has laws which place restraints on monopolies.

Yes but they operate in a free market capitalist economy, not an economy that is run by the state.

There is a difference.

Have you read the link I posted?

It's a continuum. The state intervenes all the time in the UK economy.

Yes of course it does. But there is a distinct difference between how the state operates in China and the U.K.

In order to describe this difference an economist would use the terms I have described.

Yes economies around the world are on a continuum from traditional hunting/gathering to entirely free market economics, but it is useful to use various terms to describe where economies are on this continuum.

volver

en.wikipedia.org/wiki/Tom_Hunter

I quite admire this chap, and his approach to life and business.

Never felt the need for deference towards him though. I don't suppose he'd expect it.

Tom Hunter supported the economic policies of Truss and Kwasi. Shame Hunter could not persuade the Bank of England.

I believe most policemen are politically right wing.

Did he?

Well that's new.

Evidence?

(Why do I bother asking?)

Whitewavemark2

growstuff

Whitewavemark2

growstuff

No market is 100% free. For example, the UK has laws which place restraints on monopolies.

Yes but they operate in a free market capitalist economy, not an economy that is run by the state.

There is a difference.

Have you read the link I posted?

It's a continuum. The state intervenes all the time in the UK economy.

Yes of course it does. But there is a distinct difference between how the state operates in China and the U.K.

In order to describe this difference an economist would use the terms I have described.

Yes economies around the world are on a continuum from traditional hunting/gathering to entirely free market economics, but it is useful to use various terms to describe where economies are on this continuum.

I don't think any serious economist would describe any economy in such black and white terms. They might describe elements within an economy as "capitalist" or "socialist", but every economy is unique in the way it combines the elements.

Oh then I bow to what is clearly a greater authority, and have clearly been wasting my time since university.

volver

Did he?

Well that's new.

Evidence?

(Why do I bother asking?)

Google search there are quite a few references
herald Scotland.com
26 September Dominic Ryan
Boldest of budgets
Etc etc

Hope Jenners has not burnt to the ground.

Whitewavemark2

Oh then I bow to what is clearly a greater authority, and have clearly been wasting my time since university.

I wasted my time at university. Most people do.

ronib

volver

Did he?

Well that's new.

Evidence?

(Why do I bother asking?)

Google search there are quite a few references
herald Scotland.com
26 September Dominic Ryan
Boldest of budgets
Etc etc

Hope Jenners has not burnt to the ground.

Well done. I read it. I disagree with him about that, doesn't stop me admiring him though.

The Jenners comments is very uncalled for. Personally, I'm more concerned about the firefighters that are in hospital than about making irrelevant comments about buildings.

Volver you misunderstood comment on Jenners. A beautiful old building, which sadly was no longer a department store and was being redeveloped, ?is important to the well being of some people.

Doesn’t mean that all fire fighters are not valued. Doesn’t mean that we are not worried about the firefighter who is in hospital although information is limited.

Five firefighters.

But thanks for explaining what Jenners is.

Volver I did not think I had explained what Jenners is?

ronib

Venture capitalists used to contribute most in taxes to the economy on huge profits years ago. Don’t know if still true.

Mick Jagger once said, many years ago , that the Stones brought more money into the country than the car industry. I suspect that was true. It would certainly be true if one took into account the Beatles, Led Zeppelin et al. That Jagger and others who moved abroad for tax reasons makes no difference to the amount brought into the country from record sales.

ronib

Volver I did not think I had explained what Jenners is?

More Google search… Anders Povlsen billionaire owner of a Danish fashion group bought Jenners in 2017 and it was being developed into a hotel, probably against the wishes of local residents.

Anders Povlsen billionaire owner of a Danish fashion group

Gosh. I wonder what was the source of those billions

(Just to get back to where we were last night )

Anders Povlsen owns quite a lot of Scotland. Three of his children were killed in a terrorist attack so he does command some sympathy.

I'm not sure that there are a lot of residents near Jenners to complain, but who knows.

MaizieD

^Anders Povlsen billionaire owner of a Danish fashion group^

Gosh. I wonder what was the source of those billions

(Just to get back to where we were last night )

MaizieD what about your argument about trillions of money sitting unused in not sure where, doing nothing? In the case of Jenners that is!

volver

Anders Povlsen owns quite a lot of Scotland. Three of his children were killed in a terrorist attack so he does command some sympathy.

I'm not sure that there are a lot of residents near Jenners to complain, but who knows.

I don’t think there were any objections to this scheme. Yes it’s sad to hear about the tragic loss of young life.

However from a sociological point of view, leaving aside personalities, do you not think there’s a trend for the billionaire class to exert some kind of domination over sovereign countries?

ronib

MaizieD

Anders Povlsen billionaire owner of a Danish fashion group

Gosh. I wonder what was the source of those billions

(Just to get back to where we were last night )

MaizieD what about your argument about trillions of money sitting unused in not sure where, doing nothing? In the case of Jenners that is!

We have no idea how much of his money he 'uses' and how much is just squirreled away earning more money in the form of interest and dividends.

(I'm sorry to hear that three of his children were killed. It must have been dreadful for him and their mother.)

I've absolutely fine with the idea of someone setting up a business and making a success of it. I am not happy about excessive profits, beneficial tax regimes and speculation in the financial markets which multiply the hoard just for the sake of having it.

Speculating is a useless enterprise, because for every winner there has to be a looser, those in the middle, the brokers do make a “profit”. Individual smart speculators can make fortunes which is balanced out by losers, net effect zero.

MaizieD

^Anders Povlsen billionaire owner of a Danish fashion group^

Gosh. I wonder what was the source of those billions

(Just to get back to where we were last night )

He's a major shareholder in Asos and Zalando, which are massive online fashion businesses.