ABSTRACT
I spent seven years there writing papers as a researcher on policy for the
Trades Union Congress. We were anticapitalists. I was anticapitalist. But, after
seven years, I realized that we were in a really big “D” dead end intellectually
and practically, with that kind of socialistic answer. The idea that you could
run a society without a private sector had to me become un-credible. If you
think about the vast majority of the people in the world who were then living
under social systems where the private sector was forbidden — China, Russia,
large swaths of the developing world were communistic. The whole essence
of all that thinking was that private profit is immoral and wrong and must be
stopped. I just came to the conclusion that this was madness and that we
had to have a for-profit sector. But it needed to be a responsible one.
