- Skip to content [Accesskey 'S']
- Skip to navigation [Accesskey 'N']
- Go to Home page [Accesskey '1']
- Go to Site Map [Accesskey '3']
- Go to Search page [Accesskey '4']
- Go to Help page [Accesskey '6']
- Go to Complaints page [Accesskey '7']
- Go to Terms & Conditions page [Accesskey '8']
- Go to Contact Us page [Accesskey '9']
- Go to Access Key Details page (Accessibility information) [Accesskey '0']
Mandelson calls for faith in markets.
17/02/2012
Lord Mandelson has warned left-leaning politicians to fight their "instinct" and display "faith" in competitive markets.
In an article for the New Statesman, the former Cabinet minister said rallying against globalisation would be wrong because although the banking crisis has discredited some financial systems, it has not hit "capitalism in general".
Instead, Mandelson wants the left to focus all its energies on helping workers to survive in an "uncertain world".
He outlined how the banking crisis has set out the need for financial institutions to think about their long-term future as opposed to short-term gains.
The former business secretary wrote: "Reducing deficits at an appropriate pace will help keep the bond market off our backs.
"But the most important focus for the left should be on equipping people to live in an uncertain economic world, not shutting that world out. Railing against globalisation misses the target.
"Because globalisation itself is not really the problem. The pre-globalised world was not a secure and egalitarian paradise."
Copyright Press Association 2012
How useful did you find this page?
Your recently viewed items
You need javascript enabled for us to remember your Recently Viewed Items.
You might also be interested in...
ISA transfers
Find out how to move your existing cash or stocks and shares ISAs held with another provider into one of our ISAs.
ISA top-ups
Haven’t made use of your full ISA allowance for this year? Top-up with a lump sum or increase your direct debit.
My Accounts
For an easy way to manage your investments online.
