Richard Thaler has just been awarded the Nobel Prize for Economics.
He’s best known for co-authoring the bestseller Nudge with Cass Sunstein in 2007.
Sunstein went on to become President Obama’s Regulatory Czar while Thaler provided the ideas for Oliver Letwin’s Behavioural Insights or “Nudge” unit.
Here Letwin, a former Thatcher adviser who wrote Privatising the World while working for N.M.Rothschild, introduces his take on what he refers to as Social Market Economics.
Some call it the Third Way.
Letwin boasts that given that Marxism has been thoroughly debunked ( or so he thought ), it is now possible to be both Deregulatory and Interventionist.
What is interesting about this statement is that he doesn’t mean Interventionist in the economic sense which would involve some form of nationalisation or meddling with the market such as QE.
Here he is talking about PSYCHOLOGICAL INTERVENTIONS a.k.a. NUDGE.
Letwin’s wife Isabel was the head of Legal Services for the Department of Health during the passing of the Health and Social Care act of 2012.
The Act opened up the NHS to Private Health Insurance firm United Health — also known as Optum.
Mrs Letwin was also in charge of Legal Services for the Department of Work and Pensions.
This means she was responsible for overseeing the implementation of austerity in UK Job Centres and for the disabled which involved private firms such as ATOS claiming that people who were sick and disabled were fit for work and then cut their welfare benefits and made them work for free on the work programme.
Letwin and Thaler may claim to be enlightened individuals but the deregulatory interventionism they spearheaded caused much misery and cost many lives.
Mrs Letwin supported the oversight panel of the Jimmy Savile Inquiry into his activities at Broadmoor Hospital in West London. This in itself is a major conflict of interest given how close the Letwins were to Jimmy Savile’s good friend Mrs Thatcher.
Shirley Letwin, Oliver’s mother, wrote the Anatomy of Thatcherism and Jimmy Savile attended nearly all Mrs Thatcher’s New Year’s Eve parties when she was Prime Minister. It’s unlikely they wouldn’t have met.
On the subject of Tories and Paedophilia Lord Finkelstein has attacked the police for the way they have communicated the investigations into Edward Heath’s private life.
This article will look for all the world as if it is about Sir Edward Heath. But really it isnt. Ted Heath is dead, he wasnt married, he didnt have any children. He isnt going to find out what...
In this article Finkelstein defends Cyril Smith and even Jimmy Savile.
Can I ask you a question? How do you know, really know, that Jimmy Savile is guilty of child abuse? The truth, lets face it, is that you dont. You are like me. Youve perhaps heard one or two TV...
Finkelstein was friends with Greville Janner so he defended him too.
Having moved in Tory and high up Lib Dem circles in the eighties it is inconceivable he wouldn’t have ever heard about what went on.
I don’t believe the modern Labour Party are particularly good at listening to people at the moment or that their economic programme completely adds up.
But to celebrate another torture complicit nobel laureate feels so wrong. Interesting to see how ideologically close the Obama administration were to Cameron, Letwin and even May.
Just because Trump is in charge, I don’t think the bigger picture will really change.