“Responsible capitalism.”

It’s a phrase that rolls off the tongue with great ease nowadays. Claimed by Ed Miliband as he attacked “predator” energy companies, media groups and banks, it was seen as a huge Labour success when the term spread across the political spectrum.

At least Labour is no longer “intensely relaxed” about people getting “filthy rich.” But for all the uses of political jargon, sometimes it’s just plain rubbish. Put two contradictory words – “responsible” and “capitalism” – together and create an oxymoron. But say it enough and you might convince yourself. Continue reading →