Posts Tagged ‘Classical Economics’

Sargon Begins Car-Crash UKIP Campaign

April 26, 2019

As it’s now certain that we’re still going to be in the EU for the European election, the various racist, anti-EU, anti-immigrant and islamophobic parties are lining up to campaign. And that includes UKIP, who, as I’ve blogged previously, have selected Carl Benjamin, aka Sargon of Akkad, to be one of their two listed candidates for the southwest. Sargon’s a right-wing internet personality with a hatred of ‘political correctness’, meaning feminism and anti-racist and gay rights activism. He styles himself a ‘centrist moderate’ and a ‘classical liberal’. The latter means that he isn’t moderate, but believes in the classical economics of the 19th century: everything should be privatised, and there should be little or nothing in the way of a welfare state. And as an anti-feminist, Sargon is notorious for a Tweet he sent to the Labour MP, Jess Philips, when she was describing the rape and death threats she’d received via twitter, which said ‘I wouldn’t even rape you’.

Sargon launched his campaign at a big UKIP conference last week or so with his fellow internet rightist, Mark Meechan, aka Count Dankula, and current Kipperfuhrer Batten. Dankula is the man, who was convicted of spreading hate by making a video showing how he had taught his girlfriend’s pug to make the Nazi salute when he shouted ‘Gas the Jews’. It was not a pretty spectacle. In fact it was, as Star Trek’s Ferengi used to say, ‘Ugly. Very ugleee!’ Although it was supposed to be a press conference, Sargon started by attacking the press, boasting that their audiences were collapsing while he had a million subscribers. When asked about his notorious rape tweet by a female reporter from Sky News, Sargon got defensive and said that it wasn’t a rape threat. Which is disingenuous, as no-one said it was. What everyone found offensive was that it was directed at a woman, who had suffered rape. Kevin Logan, discussing the tweet and Sargon’s catastrophic press meeting with Dr. Kristi Winters, argued that his tweet was threatening, in that by including the word ‘even’ Sargon was suggesting that there were people, he did consider worth raping.

And everyone has picked up on that Tweet. Sargon has been massively pilloried for it in the mainstream press, with the Scum – of all papers! – describing him as a ‘sicko’. But this hasn’t deterred Sargon and his supporters from defending it. They try to wave it all off by saying that it all happened three years ago, and so it’s no longer relevant. But it is, as unlike the other politicos, who’ve been forced to apologise for ill-judged or malign comments, they’re still defending it and haven’t changed their views. In fact, the evening before the press conference Meechan and Sargon had held an event at which they talked about themselves. And Meechan told a joke that was arguably even worse. He was talking about how he had been poor at university. The were so poor, they couldn’t afford hook-ups, and so had to resort to rape. But it was worse for the women, who were also poor and always being raped. It’s the kind of joke which would have any other political party demanding an apology or considering suspending the politico involved. Not so UKIP, apparently. Back at the press conference, Sargon said he wasn’t going to answer any more questions from them, as they were ‘dirty, dirty smearers’. Which he then contradicted by immediately asking, ‘any questions?’

Sargon is also notorious for a post he put up on his YouTube channel in which he used a range of racial slurs against Blacks, Hispanics, Jews, gays and the mentally handicapped. The anti-racist/ anti-religious extremism organisation has dug it out, and yesterday put up a piece about this wretched video, including a transcript. The post was made in November 2015, and was titled ‘Offence Is Never Given, Retard’, but has since been pulled from YouTube for violating their community guidelines. Sargon’s video was a response to another piece trying to get people to stop using racial slurs. This featured a Black man, Hispanic woman, gay man, an Asian, a Jew and a woman with Down’s Syndrome, who come forward and say, ‘It’s not acceptable to call me – ‘ and then the racial or sexual slur, ‘n***er’, ‘Sp*c’, ‘f*g’, ‘k*ke’, ‘Ch*nk’ and ‘retard’. Sargon then protests against all this, and claims it’s perfectly acceptable to call Asians ‘ch*nks’ because they are more privileged than Whites. He then ends his video with a piece of text reading

DON’T LET THESE AUTHORITARIAN BUSYBODIES CONTROL YOU.

IT’S NOT UP TO YOU TO PROTECT THE FEELINGS OF OTHERS, IT IS FOR EACH INDIVIDUAL TO DO THAT FOR THEMSELVES.

AND IT CAN BE SO LIBERATING TO BE PURILE [sic] OCCASIONALLY.

GOD FORBID THESE STODGY BASTARDS OUTLAW OFFENDING PEOPLE.

Oh yes, and just to be really offensive he puts up in front of the Black man the title of a notoriously offensive Danish movie, Gay N*ggers from Space.

The piece by Hope Not Hate also states that Benjamin’s cameraman, Michael Brooks, is another rightist, who has described himself as ’14 and 88′, a far right code mixing ‘Heil Hitler’ with the notorious ’14 words. He has contributed to various far right sites, and once posted a graph showing how the birthrate in Africa was outstripping that in Europe with the phrase, ‘Planet of the Apes is coming’. Brooks appeared alongside Sargon at another Brexit rally organised by UKIP and the Islamophobe Tommy Robinson.

UKIP Euro Candidate’s Vile Racial Slur-Ridden Rant

And this week Sargon kicked off his campaign in his home town of Swindon. He arranged to meet his public by the fountain, before moving to the pub, which he considered to be a more comfortable environment. He showed his characteristic lack of punctuality by turning up half an hour late. No-one from the mainstream media bother to be in attendance, and even the reporter from the Swindon Advertiser packed it in and went off after a while. Which doesn’t bode well for Sargon’s media coverage. Not that he can really complain – he deliberately baited them at the UKIP press conference, expecting to be able to pick up votes online. Kevin Logan pointed out that what he doesn’t seem to understand is that of his million subscribers, many are abroad and so can’t vote for him, while those in Britain are spread all over the country, so that there may be very few of his supporters in the southwest. Which means that the number of people, who know who he is, yet alone intend to vote for him, may be very small. He did turn up in Bristol on Wednesday, where he had a small gathering, but the UKIP rally was vastly overshadowed by Change UK’s.

See Kevin Logan’s and Kristi Winter’s video discussing Sargon’s campaign at: https://www.youtube.com/watch?v=tOd0KMVJDBQ&t=7193s This is two and three-quarters of an hour long, but the last 50 minutes or so are about an incident in America where the racist YouTuber Andy Warski was threatened with violence for his stupid antics.

Also, as Zelo Street has pointed out, Aubrey Attwater, the chairman of UKIP’s Swindon branch, has also demanded Sargon’s deselection because of his rape tweet. See https://zelo-street.blogspot.com/2019/04/carl-benjamin-forgotten-already.html

Sargon is proud of having appeared at the European parliament supporting UKIP, but this looks like it’s going to be the high point of his career. With antagonism, hostility and apathy from the press and his own local party, and more general outrage from the rest of the population at his racism, misogyny and bigotry, hopefully Sargon’s hopes to be an MEP are doomed to failure.

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John Quiggin on the Failure of Thatcher’s New Classical Economics

January 9, 2019

Very many Libertarians describe themselves as ‘classical liberals’, meaning they support the theories of the classical economists of the late eighteenth and nineteenth centuries. This rejects state intervention and the welfare state in favour of free markets and privatization. This theory was the basis of Thatcher’s economic policy before the Falklands War, as well as those of other countries like Australia and New Zealand. In all of these countries where it was adopted it was a massive failure, like trickle-down economics and austerity.

Quiggin describes how Thatcher’s New Classical Economic policy was a failure, but she was saved from electoral defeat, partly by the Falkland War on page 113. He writes

The only requirement for the New Classical prescription to work was the credibility of the government’s commitment. Thatcher had credible commitment in bucketloads: indeed, even more than an ideological commitment to free-market ideas, credible commitment was the defining feature of her approach to politics. Aphorisms like “the lady’s not for turning” and “there is no alternative” (which produced the acronymic nickname TINA) were characteristics of Thatcher’s “conviction” politics. The slogan “No U-turns” could be regarded as independent of the particular direction in which she was driving. In a real sense, Thatcher’s ultimate political commitment was to commitment itself.

So, if New Classical economics was ever going to work it should have done so in Thatcher’s Britain. In fact, however, unemployment rose sharply, reaching 3 million and remained high for years, just as both Keynesians and monetarists expected. New Classical economics, having failed its first big policy test, dropped out of sight, reviving only in opposition to the stimulus proposals of the Obama administration.

However, Thatcher did not pay a political price for this policy failure, either at the time of (the Falklands war diverted attention from the economy) or, so far in retrospective assessments. The only alternative to the “short sharp Shock” was a long, grinding process of reducing inflation rates slowly through years of restrictive fiscal and monetary policy. While it can be argued that the resulting social and economic costs would have been significantly lower, political perceptions were very different. The mass unemployment of Thatcher’s early years was either blamed directly on her predecessors or seen as the necessary price of reversing chronic decline.

New Classical Economics was a colossal failure. In fact Thatcherism, whether implemented by the Tories or New Labour, has been a failure, though New Labour was better at managing the economy than the Tories. The only reason it has not been abandoned is because of the charisma surrounding Thatcher herself and the fact that it gives even more wealth and power to the upper classes and the business elite while keeping working people poor and unable to resist the exploitative demands of their employers. And its given a spurious credibility to ordinary people through its promotion by the media.

Jess on Say’s Law and the Tory Denial that Increase in Food Banks Represents Genuine Demand

April 20, 2014

Jess, one of the commenters on this blog has posted a detailed critique of the economic law behind the Tories’ refusal to admit that the rise in food banks is due to a massive increase in poverty. The Tories cannot admit that there is mass starvation in this country due to their austerity campaign. They therefore claim instead that food banks are increasing simply because there are more food banks, and their mere existence attracts more customers.

In her comment to Mike’s post on Vox Political, ‘Food bank blow is new low for the Mail on Sunday’, Jess attacks this assertion, and shows that it is based on Say’s Law, an economic doctrine that has now been comprehensively refuted in the form it has been adopted under Lord Freud to justify the attacks food banks. She states

“Another claim – that “volunteers revealed that increased awareness of food banks is driving a rise in their use” is unsubstantiated, and is clearly an attempt to support the government’s claim that this is the case. But it is silly. Of course starving people will go to a food bank after they have been told it exists; that doesn’t mean they aren’t starving.”

The DWP appear to be pushing this line rather hard, as their response to the public’s growing awareness of the scandal of food banks. Their argument, based on Say’s Law, is utterly fallacious, and they must know it is.

Say’s Law, roughly formulated, is “”Supply creates its own demand”[http://en.wikipedia.org/wiki/Supply_creates_its_own_demand].
In the present context it seems to have been first invoked by Lord Freud, and then taken up by his department.

It will be familiar to most people through its mention by Keynes in his ‘General Theory’;
“From the time of Say and Ricardo the classical economists have taught that supply creates its own demand; meaning by this in some significant, but not clearly defined, sense that the whole of the costs of production must necessarily be spent in the aggregate, directly or indirectly, on purchasing the product.” [http://www.marxists.org/reference/subject/economics/keynes/general-theory/ch02.htm]

But even the free marketeers regard Freud’s interpretation of Say as ridiculous;
“W. H. Hutt once referred to Say’s Law as the most fundamental ‘economic law’ in all economic theory. In its crude and colloquial form, Say’s Law is frequently understood as supply creates its own demand, as if the simple act of supplying some good or service on the market was sufficient to call forth demand for that product. It is certainly true that producers can undertake expenses, such as advertising, to persuade people to purchase a good they have already chosen to supply, but that is not the same thing as saying that an act of supply necessarily creates demand for the good in question. This understanding of the law is obviously nonsensical as numerous business and product failures can attest to. If Say’s Law were true in this colloquial sense, then we could all get very rich just by producing whatever we wanted.” [http://www.fee.org/the_freeman/detail/understanding-says-law-of-markets]

How then, did this silly ‘aphorism’ creep into the language of the DWP?

One route may have been through the IEA and it’s then Director David G Green.. He wrote a couple of pamphlets in the late ’90′s advocating the demolition of Social Security, and a return to the Friendly Societies of Victorian England [Benefit dependency : how welfare undermines dependency.1998; An end to welfare rights : the rediscovery of independence 1999]

Most people, at the time, thought Green was ‘off his trolley’, It is tragic that Say, and Green is being used to attack food banks. The last refuge of the destitute.

This last paragraph, where she mentions IEA and its director, David G Green, is also important. I remember back in the 1990s the Daily Mail criticising the establishment of the modern welfare state for the way it sidelined the Friendly Societies. The Daily Mail had clearly been influenced by Green’s bonkers views, and it shows just how extreme and reactionary the Mail is.

Back to 1920s Economic Orthodoxy with Neo-Liberal New Labour

March 24, 2014

140323labourpolls

Poll showing the fall in Labour’s lead over the Tories after Balls and Milliband declared they would not opposte the government’s austerity campaign.

Yesterday Mike over at Vox Political put up a controversial piece about the way Labour’s lead over the Tories had collapsed in the wake of Osborne’s budget. Mike argued that this was because Ed Balls and Ed Milliband, instead of defending the working and lower middle classes – the genuinely hard-working people of Cameron’s Britain – against the privatisation of the health service and savage cuts to benefits – Balls and Milliband had instead largely agreed with the government’s policies. To the disgust of many, Milliband has stated that he will not reverse the government’s austerity cuts despite the fact that these are economically nonsensical. Like his predecessor, Tony Blair, Milliband has stated that he wants the party to reach out to the middle class. Thus he appears to have abandoned the very people Labour was founded to represent – the poor, and the working class.

When Blair launched the New Labour project it was proudly held up as modernising the party, a policy and attitude that Milliband wishes to follow. Except that it hasn’t modernised the party. It’s done the opposite and dragged it back over 90 years to the 1920s. When the Labour formed its first government in that decade, contrary to expectations and the desires of its rank and file members and voters it followed a policy of model economic orthodoxy with fiscal restraint in order to pay for the War one of the government’s chief priorities. This was the same decade that Keyne’s produced his ground-breaking theories that overturned classical economics and argued that government spending would indeed create economic growth rather than the opposite. However, with the exception of Lloyd George, the parties across the political spectrum failed to adopt them and remained firmly wedded to classical liberal orthodoxy.

Despite the party’s formal commitment to socialism and the working class, there appears to have always been a reluctance amongst some members of its leadership to break with received economic wisdom and appearing too radical. Some of this may be due to the electorally weak position the Labour party has often found itself in. In the mid-1970s under Callaghan the party had a majority in parliament of five. Some of this may also simply be due to the ideological inertia of society as a whole. Once in power, Labour may feel powerless to challenge the entrenched economic and social views of wider society, including the Civil Service and the Bank of England.

It must also be admitted that there are sections of the Labour party, which also seems to share the views of their opponents across the floor, both in economics and in their attitude to the working class. One of the criticisms levelled at the new generation of Labour MPs in the 1970s was that they were largely drawn from the middle classes, and feared and distrusted the working classes on whose behalf they had been elected. This attitude became acute with New Labour, when Tony Blair adopted post-Thatcherite economic and social policies in order to win over the swing voters in key constituencies at the expense of their traditional working class electoral base. As New Labour proudly declared at the time, ‘we’re all middle class now’. Except that we weren’t, and the working class and the poor suffered as a result. Some of that attitude was due to desperation. One female Labour politician in Owen Jones’ book, Chavs: The Demonization of the Working Class states that they turned to the new, post-Thatcherite political orthodoxy simply to get into power, so that they could at last do something. It worked, but once in power New Labour forced through many of the same policies that Cameron is pursuing now, which are causing so much damage and harm to Britain’s ordinary, working people.

In the case of New Labour, there is also an ideological influence from American Conservativism. Reagan launched a project to influence the next generation of politicians over here in order to create an Atlanticist alliance and political consensus. This was the British American Project for the Successor Generation, or BAP. The individuals who participated ended up going on various courses in Washington, to meet the people at the heart of the American political system and to see elements of it adopted on this side of the Atlantic. BAP not only included British Conservatives, but also aspiring opposition politicians, including Blair, Balls and the rest of New Labour. The British parapolitical magazine, Lobster, has devoted a number of articles to this.

The result is the current Labour leadership, which seems desperate to follow whatever the Conservatives are doing at the moment, no matter how wicked or harmful, in order not to offend the middle classes. Not only is this a nasty, short-sighted policy that hurts the very people Labour was formed to represent, it’s also unnecessary. The number of people voting in elections is shrinking, partly because people don’t see any real difference between the parties, who are all competing for the same narrow demographic base. Labour could overturn this simply by returning its original Left-wing political orientation. The public does not want the privatisation of the health service and most would like to see the railways and the utilities renationalised. Simply appealing to those voters could massively increase Labour’s lead over the Tories.

At the same time, Labour has never been against the middle class. One of the founding organisations of the modern Labour party, the Fabian Society, explicitly rejected class warfare. They felt that socialism would benefit the whole of society, and so set about trying to win over the middle class support, which they felt was necessary for the successful implementation of socialism. Note: they wanted to win the middle classes over to socialism, not simply win middle class support at the price of jettisoning it. In fact the Fabian Society and the Labour party have often been accused of abandoning Socialism in order to gain the support of the middle classes, but even so, they did have a profound belief in Socialism, even if this was not always reflected in practice. The Labour MP Tony Crossland believed that Labour’s welfare policies actually benefitted capitalism, as it allowed the workers to purchase more goods and services, while government intervention in the economy meant that businesses were protected from the massive slumps and bankruptcies that occurred in the 19th century.

In many ways the Labour party has been far more pro-business than the Tories, even before Blair arranged for the party’s commitment to nationalisation to be dropped from its charter. The Labour administrations of the 1970s made grants available to businesses so that they could modernise their plants, and attempted to pursue policies that would allow businesses to compete in the international market. Compare that to Thatcher, under whose administration failing businesses were ruthlessly closed and millions were thrown out of work.

Economically and socially, Thatcherism and Neo-Liberalism are abysmal failures. They succeed politically because they benefit an immensely wealthy few, and appeal to some of the worst aspects of human nature – greed, insecurity and a vindictive, visceral hatred of the less fortunate.

The Neo-Liberal consensus it not shared by a large majority of the population. Labour can still win elections with a more Socialist political agenda – by strengthening the welfare state and providing better planning and support for businesses. All it needs is the political will from its leaders to do so. If Balls and Milliband don’t do this, then Labour will certainly lose the next election and the British people will suffer poverty and deprivation on the level of the Great Depression. Balls and Milliband have a choice. They can either return Labour to its Left-wing roots, or they should give up the leadership to someone who can.

Poverty Journalism and the Media Patronisation of the Poor

March 9, 2014

Thackeray Snob Cover

W.M. Thacheray’s The Book of Snobs (Alan Sutton 1989)

I’ve just reblogged Jaynelinney’s article criticising the media’s use of the poor as a kind of zoo, who can be patronised on camera by visits from ostensibly well-meaning celebrities and TV producers, expressing concerns about their plight. Her piece was inspired by the article, to which she links, in ‘Independent Voices’ in the Indie, about how the middle classes have been regularly traipsing into slums and working class poverty to see how the ‘other half’ live for almost 200 years now. That article mentions, amongst others, Henry Mayhew, the author of London Labour and the London Poor, and George Orwell’s classic, The Road to Wigan Pier, as well as more recent works by Polly Toynbee. Orwell comes in for something of a bashing as he undertook his journey to the heart of industrial darkness as a journo in search of a subject, not as a social campaigner. The book that followed annoyed a member of the National Unemployed Union so much, that he wrote his own book, tracing the journey in reverse, so that he travelled from the depressed areas to the leafy suburbs of Epsom. For the writer of the Independent article, what we need are fewer middle class writers patronising the working class, and more working class writers casting acerbic, jaundiced prose and writing at the Middle and Upper classes and their lives of wealth and luxury.

Thackeray and Snobs, Ancient and Modern

This would, actually, be an interesting experiment, and could produce something really radical. In the hands of a good writer, it could produce something like Thackeray’s The Book of Snobs, but with added social bite. Thackeray was, of course, solidly middle class, and certainly didn’t deny it. The book is subtitled ‘By One of Themselves’. It was originally published by Punch, when it was still slightly subversive, more like Private Eye today than the eminently respectable, establishment organ it later became. Each chapter describes a particular class of snob, who were defined as ‘someone who meanly admires mean things’. Reading it I was struck by how modern it still sounds, despite having first seen print in 1846-7. For example, Thackeray’s chapter on ‘University Snobs’ has this to say about the ‘Philosophical Snob’.

The Philosophical Snob of the 1840s and Their Modern University Descendants

Then there were Philosophical Snobs, who used to ape statesmen at the spouting-clubs, and who believed as a fact that Government always had an eye on the University for the selection of orators for the House of Commons. There were audacious young free-thinkers, who adored nobody or nothing, except perhaps Robespierre and the Koran, and panted for the day when the pale name of priest should shrink and dwindle away before the indignation of an enlightened world.

If you think of the earnest young people, who discovered radical politics at university, or who joined the Student Union and the various political associations with a view to starting a career in politics, or simply read Politics, Philosophy and Economics at Uni before joining the staff of an MP on graduation as a researcher, then Thackeray’s description above actually isn’t that different from what goes on today. Robespierre, of course, was the leader of the dreaded Committee for Public Safety, responsible for killing hundreds of thousands during the French Revolution in the name of republicanism, democracy and Deism, so you can easily see a parallel there between the snobs earnestly reading his works, and some of the radicals in the 1960s, who joined the various Communist parties and loudly hailed Mao’s Little Red Book. As for the free-thinkers, who used to toast the day when the last king would be strangled in the bowels of the last priest, that reminds me of the various atheist and secularist societies that sprang up on campuses a few years ago, all talking earnestly about the threat of religion to science and quoting Richard Dawkins and Lewis Wolpert.

the Upper Classes at Uni, and the Perils of their Lower Class Imitators

But it is the poor university students who try to copy their far wealthier social superiors, about whom Thackeray is most scathing. He states:

But the worst of all University Snobs are those unfortunates who go to rack and ruin from their desire to ape their betters. Smith becomes acquainted with great people at college, and is ashamed of his father the tradesman. Jones has fine acquaintances, and lives after their fashion like a gay free-hearted fellow as he is, and ruins his father, and robs his sister’s portion, and cripples his younger brother’s outset in life, for the pleasure of entertaining my lord, and riding by the side of Sir John And though it may be very good fun for Robinson to fuddle himself at home as he does at College, and to be brought home by the policeman he has just been trying to knock down-think what fun for the poor old soul his mother!-the half-pay captain’s widow, who has been pinching herself all her life long, in order that that jolly young fellow might have a university education.

Unfortunately, little also seems to have changed here in the last nearly 170 year since Thackeray wrote that. I did some voluntary work a few weeks ago for M Shed here in Bristol. Many of the other volunteers were also university students and graduates, who were hoping to find a career in museum work. Discussing the country’s problems, one older lady stated very forcefully that the problem was that none of the country’s leaders now came from the working class. Just about everyone agreed with her on this point. One of the university students made the point very many have also made, about politicians coming directly from Oxford, where they studied PPE, and haven’t done a proper day’s work in their lives. The girl told us that one of her friends, who was ‘a little bit posh’, had gone to Oxford and been shocked at how dominated it was by the aristocracy. And have I heard of students, who have managed to irritate their fellows by copying the manners of Oxford upper crust.

Domination of Society by the Upper Classes, regardless of Merit

As for the chapter ‘What Snobs Admire’, where Thackeray describes the life and career of a fictional snob, Lord Buckram, who goes and gets flogged at Eton, studies at Oxford, and then marries well on graduation to a rich heiress, before taking his place among the gilded youth. Thackeray could be describing modern snobbery in all its pomp today, especially, but not exclusively, amongst the cabinet:

Suppose he is a young nobleman of a literary turn, and that he published poems ever so foolish and feeble; the Snobs would purchase thousands of his volumes: the publishers (who refused my Passion-Flowers, and my grand Epic at any price) would give him his own. Suppose he is a nobleman of a jovial turn, and has a fancy for wrenching off knockers, frequenting gin-shops, and half murdering policemen: the public will sympathize good-naturedly with his amusements, and say he is a hearty, honest fellow. Suppose he is fond of play and the turf, and has a fancy to be a blackleg, and occasionally condescends to pluck a pigeon at cards; the public will pardon him, and many honest people will court him, as they would court a housebreaker if he happened to be a Lord. Suppose he is an idiot; yet, by the glorious constitution, he is good enough to govern us. Suppose he is an honest, high-minded gentleman; so much the better for himself. But he may be an ass, and yet respected; or a ruffian, and yet be exceeding popular; or a rogue, and yet excuses will be found for him. Snow sill still worship him. Male snobs will do him honour, and females look kindly on him, however hideous he may be.

Snobbishness Revived, and Britain Going Back to 19th century

This just about describes the social privileges and the expectations of immediate public deference of the entire Tory front bench. All this was, of course, supposed to have been done away in the ‘white heat’ of the ’60s, when, along with the development of new technology, and new classlessness was supposed to have swept through the nation. Well, that may have been the case then, but things have since gone backwards. There are now fewer Labour MPs, who come from a working class background, than there were before the ’60s. Hugh Massingberd, in one of his essays in the Times in the 1980s, celebrated the revival of the fortunes of the aristocracy and the country house under Maggie Thatcher as ‘a new social restoration’. The Libertarians have emerged from out of the Union of Conservative Students to preach Von Hayek and Von Mises’ revival of classical economics, with all its faults, with the exception that in general the 19th century economists approved of trade unions. Well, the new classlessness of the 1960s has thoroughly died down, and the Coalition is leading us forward into the 19th century.