The Tories are deadly serious about levelling up
Boris Johnson uses his party’s conference to flesh out his signature policy
JOSEPH SCHUMPETER, one of the 20th century’s greatest economists, argued that capitalism is shaped by two countervailing forces: creative destruction and popular resentment. Creative destruction drives economic progress but also whips up resistance by destroying old ways of doing things and creating giant fortunes. The historical role of the right is to promote the destruction; that of the left is to mobilise resentment. Schumpeter thought that the left would win in the end. “Can capitalism survive?” he asked himself glumly. “I don’t think it can.”
This article appeared in the Britain section of the print edition under the headline “Toiling towards the sunlit uplands”
Britain October 9th 2021
- Wages are rising in Britain, but so are prices and taxes
- The government wants to boost British startups through immigration
- What Sarah Everard’s murder means for the Metropolitan Police
- Britain’s welfare state offers little protection for workers
- The lamps are going out all over Britain
- Britain’s trees are being felled by diseases
- The Tories are deadly serious about levelling up
From the October 9th 2021 edition
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