April 24, 2006

Labour and the politcs of greed

What can Lakshmi Mittal'’s £14.8 billion buy that Bernie Ecclestone'’s £2,243 million cannot?
The Romanian steel industry apparently. But Mr Ecclestone was probably a better business man as he got all his money returned after the legislation that he bought was enacted.
Some [*cough* Polly Pot *cough*] argue that the answer is transparency all round. By knowing what everyone earns, the theory goes, we shall avoid a climate of suspicion and envy. The opposite is true: we should stop spying on the rich because it makes things worse. If we want to be rich, we should work at it. If we don’t, we should concentrate on things that matter more in life, such happiness.
Or even both. But guiding principle is the greatest happiness to the greatest number. Rather than the bitter, twisted, politics of envy spouted hypocrites like Polly.


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