As the date of the vote for the Scottish Referendum stands firmly on the horizon, John Kay addresses the concrete steps that would need to be considered for a successful economic transition to be a prosperous, independent state in this speech at University of Glasgow.
The key to understanding why market economies have outperformed planned societies is not recognition of the ubiquity of greed, but understanding of the power of disciplined pluralism. (This article is part of an IPPR series more of which can be read here)
1989 marked the victory of markets over vested interests: 2009 has witnessed the reverse. Market power needs to be tackled in ways economists have ignored. We thank John Kay and the Wincott Foundation for permission to reprint in full the 2009 Wincott Lecture given on October 20.
Your excellency the Life president, ladies and gentlemen, I am taking this opportunity to describe to you the nature of our business and the principles on which we conduct it
