Cameron admits UK has lost faith in capitalism

[alp227]

David Cameron, UK prime minister, acknowledged Britain’s loss of faith in free market capitalism yesterday, in a speech that capped weeks of political agonising about how to control soaring executive pay and multi-million pound bank bonuses.

Britons have so far been willing to accept the need for pay restraint and tax rises to cut the country’s deficit – one of the biggest in any major economy – but public anger has been rising at a sense that the rich are not sharing the pain.

Mr Cameron has been jostling with Ed Miliband, leader of the Labour opposition, to come up with policies to address this public concern. The prime minister said that “many people today are disenchanted with markets – even angry”.

The prime minister fears that his centre-right Conservative party – which includes many MPs who grew up under Margaret Thatcher’s red-blooded premiership – is vulnerable to charges that it is oblivious to the high salaries and bonuses being accumulated in Britain’s boardrooms.

full: http://liveweb.archive.org/http://www.ft.com/cms/s/0/9227da5e-42ba-11e1-b756-00144feab49a.html

[Fool Count]

1. Faith? Isn't it now, like, totally established scientific fact that capitalism sucks?