In his leader’s speech last week, Ed Miliband talked about ‘changing the values of our economy.’ Some businesses have good values, he claimed, and others do not: we need to distinguish in our policy, in our regulation, between ‘producers‘ and ‘predators‘. Right-wing commentators have lambasted these comments from a predictable stand-point. David Osler also suggested here that the distinction was not as clear as he made out – indeed “from the point of view of the working class, predation with a human face is still predation.” Chris Dillow proposes an elegant explanation of why it is no accident that business tends to be predatory: Continue reading →