Report on David Cameron's Speech on Labor Government's Enablement of Turbo Capitalism

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According to the Guardian on January 19, 2012, British Tory Prime Minister David Cameron criticized the previous Labor governments of Tony Blair and Gordon Brown for overseeing, if not enabling, the growth of "turbo capitalism." Cameron criticized these governments for allowing "capitalism to rip" by allowing large "predatory" corporations to create large imbalances in national wealth where the rich got richer, the poor got welfare, and the middle class paid for both. In his address, Cameron called for government to do more than reduce the deficit and encourage growth, and instead, Cameron called for a newer type of capitalism for the contemporary era in which market activity can revitalize and encourage morality. Cameron argued the Tories are uniquely positioned to oversee the project because the party has a long history of socially responsible economic policy dating back to the time of Edmund Burke, who called for public accountability for the unethical practices of the East India Company. From the corporate end, he is seeking a more other-regarding corporate responsibility ethical practice in which British corporations diminish harmful behavior such as predatory lending; and failing that, Cameron seeks greater ability to sanction those financial institutions that engage in activities which harm individual Britons and the state. Cameron refers to the privatization of industry of the Thatcher years as providing a model, and his call to have public sector employees develop

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