These are the words of political economist and journalist Will Hutton in his now famous diagnosis of the contemporary ills of British society, The State Were In. ‘All the malfunctions of the economy are related’, argues Hutton, ‘fused by the government’s overweening desire to establish the market principle as the basis of every policy.’ (p. 14) The character of the British economy has been shaped by the collective aspiration to a gentlemanly life—to have an income for which one does not obviously labour, ideally from land, but otherwise from finance and commerce—speculation on the markets. At all events, industry, the actual work of production, has been regarded by those at the centre of power as an activity from which to keep a distance. This attitude has created a lack of commitment and poor investment on the part of finance in relation to industry which has, according to Hutton, impoverished the economy, preventing real economic growth and stability. In this approach, Britain is unique among her capitalist partners both in the West and now increasingly in Asia.