Oct 5, 2011

Turning Britain into a CME

Could a Liberal Market Economy (LME) become a Coordinated Market Economy (CME)? Ed Miliband, leader of Britain's Labour Party seems to think so. On 27 September, at his party's annual conference Mr. Miliband is reported to have set out his vision for implementing a Rhineland variety of capitalism in Britain, rewarding production over speculation and services, and introduce corporatist elements to capital and labour relations. A fairly hostile take on this in the Economist is attached below. In any case, this will not happen any time soon: the plan envisages 20 years of transition and the next elections may only take place in 2014 or 2015...

Economist
http://www.economist.com/node/21530975

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