Tories Against Capitalist Interests?

Guido believes that capitalism is the bedrock of an open society and that “to be controlled in our economic pursuits means to be controlled in everything.”* But capitalism thrives best when it is free of corruption and dealings are done in the open. So Guido fails to understand why the Tories are opposed to legislation requiring fund managers to publish details of how they vote at company AGMs. Seems reasonable, they should already be informing their shareholders if not their competitors. Some corporate managers seem to run many firms for their own benefit rather than their owners benefit, like a nationalised industry. The Tories should propose to amend the legislation to ensure companies inform their owners of what they are doing. That would be standing up for the interests of capitalists and shareholders.
*Hat-tip.




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Quote of the Day

Philip Hammond uses a trip to Berlin to mock the Foreign Secretary:

“A compromise is the art of dividing a cake in such a way that everyone believes he has the biggest piece. Wise words with some applicability to the Brexit negotiations although I try to discourage talk of “cake” amongst my colleagues.”

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