John Kay – The left is still searching for a practical philosophy

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FT.com / Columnists / John Kay - The left is still searching for a practical philosophy.

I fear John Kay is right.

Refreezing though he's also right when he says:

[M]arkets operate successfully only when they were embedded in communities; that trust and co-operation are not antithetic to a market economy, but essential to it; that the driving force of innovation is pluralism and experiment, not greed and monopoly; that corporations acquire legitimacy only from the contribution they make to the societies in which they operate. In a column after the British election I will elaborate that philosophy.

I look forward to it.