The current Chancellor Jeremy Hunt has now reversed nearly all of Truss and Kwarteng’s fiscal statement. Not great news for those who hoped for a degree of stability in already sky high energy prices for example.
Chris Mason the BBC’s political correspondent paraphrased a line from the Communist Manifesto which actually reads ‘all that is solid melts into air, all that is holy is profaned’. Holy that is to the hard right adherents of the Institute of Economic Affairs.
Gordon Brown may have claimed to have abolished boom and bust until the 2008 financial crisis proved him wrong. The reality is that capitalism is a system built on crisis and the current situation is just the latest one.
A reflection that perhaps Marx and Engels knew more about how capitalism works and doesnt work than Tory Governments
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