Nick Clegg speech on responsible capitalism  

Another week, another speech about the evils of capitalism. Let me start by asking: who here is in favour of irresponsible capitalism? Because you won’t find many people arguing for more recklessness, more short-termism or greater rewards at the top. On the contrary - the growing consensus is that we need the opposite: a more sustainable economy; a more balanced economy, where rewards are proportionate and relate to real success. That consensus, emerging among the political parties, has attracted a little cynicism. I can understand that. It is, after all, bonus season in our banks. But there is a more generous interpretation of the shifting political mood. One that says: perhaps the penny has finally dropped. Liberal Democrats have been arguing for a more balanced capitalism for many years. Vince Cable warned in 2006 that bank lending levels were “recklessly...