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July 21, 2023 - 12:15am
Coercion and tyranny are what governments do to us, whereas the private sector is where choice, consent, and spontaneity reign. This is one of the bedrock certainties of the modern Anglo-American Right, and each day brings fresh evidence that it’s a myth. Nigel Farage is only the latest ardent free-marketeer to learn the lesson the hard way.
Last month, the former Ukip and Brexit Party leader had his account unceremoniously terminated by his financial institution, the London-based Coutts. Initially, Coutts claimed that the move was based purely on “commercial” considerations, having to do with Farage’s failure to meet a requisite “financial threshold”. Yet as the firm’s internal deliberations have revealed, the decision to de-bank Farage had almost entirely to do with his political views and associations.
Sohrab Ahmari is a founder and editor of Compact and author of the forthcoming Tyranny, Inc: How Private Power Crushed American Liberty — and What To Do About It
SohrabAhmari
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SubscribeIt would be a particularly naive free-marketeer and right-winger who thought as the author suggests. Adam Smith was quite clear regarding the potential for businesses to be a conspiracy against the public.
In this case the management of banks have become ideologically infected and abused their power to punish somebody who doesn’t share and indeed opposes their ideology. This is not part of the culture that has prevailed previously and hopefully pressure from customers and government need to bring this behaviour to an end. Banks should not be in the business of espousing values unless they are part of a totalitarian system. What was particularly worrying here was the fact that other banks declined to offer Ferage facilities. The virtue of capitalism should be that competition keeps businesses relatively honest and efficient. Clearly there is now insufficient competition between banks. The management are happy for customers to be treated in an arbitrary manner.
It would be a particularly naive free-marketeer and right-winger who thought as the author suggests. Adam Smith was quite clear regarding the potential for businesses to be a conspiracy against the public.
In this case the management of banks have become ideologically infected and abused their power to punish somebody who doesn’t share and indeed opposes their ideology. This is not part of the culture that has prevailed previously and hopefully pressure from customers and government need to bring this behaviour to an end. Banks should not be in the business of espousing values unless they are part of a totalitarian system. What was particularly worrying here was the fact that other banks declined to offer Ferage facilities. The virtue of capitalism should be that competition keeps businesses relatively honest and efficient. Clearly there is now insufficient competition between banks. The management are happy for customers to be treated in an arbitrary manner.
I think ole Benito had a word for that sort of thing. No doubt ANTIFA will be along shortly to decry corporations with socialist political ambitions. It’s a funny old world, when you stop and think about it, the very people, corporations and states (think Russia) who most vociferously oppose something are, at the same time, the very people seemingly hell bent on ushering it in.
We are living subject to a tyranny of minorities hell bent on the creeping expropriation of the rights of the majority in the name of EDI.
Not one political party has EDI at the heart of its manifesto. It’s electoral suicide. Instead unelected vocal pressure groups dictate the ways in which we are forced to conform or risk cancellation. The same is true of Net Zero.
The majority is stirring on the arrant nonsense poured forth by progressives. A revolution is needed.