Friday, September 12, 2008

Travel Firm XL Goes Bust

So once again some business goes bankrupts and the BBC asks "Is there sufficient protection for travellers?" I could probably make this post everyday because the country, and the world, is undergoing a very fundamental misunderstanding. We wanted capitalism, we wanted private enterprise, we want it so that anyone can start their own business and have the chance at success. We want free markets, not government intervention...

OH WAIT. It turns out when peoples holidays are at risk, or their bank goes bust, we DO want government intervention. Sounds a bit communist to me. What about government intervention in trains so that people can get a better service? Nah, well we'll subsidise it, but let the train operators keep the profits (to the tune of about £5bn a year I believe). I could name dozens of examples, it's the same with the football thing Brown so naively complained about yesterday, and it all boils down to the same issue. The neo-conservatives who pushed all this liberalism during the 1970s and 80s rightly pointed out that any government intervention would distort the market and was a bad thing. If you want to play a game, you have to play to ALL the rules, or it starts fucking up.

Executives always defend their ridiculous salaries with the claim that they are doing a "risky" job. Many people who try what they do fail, and so it is only fair that the ones who succeed are rewarded with millions of pounds. But obviously this argument falls apart in the 21st century, because any large company that goes bust is immediately bailed out by the government. Ok that is an exaggeration, but over the next 10 years or so I can see it becoming much more widespread.

It is like some twisted form of reverse socialism, the government take money straight out of our pockets, and hand it to the chief executives and the directors.

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