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Why not use the John Lewis Christmas ad as an economic example?

Summary:
Around here we bang on, interminably at times, about the importance of distinguishing between capitalism and markets. The first is a description of who owns, the second about competition, pricing and the distribution of what is made. These are entirely different things, different axes along which to consider the structure of an economy.We're absolutely fine with voluntary socialism - if the workers, the customers, the producers, want to own the means of production then why not be fine with that? We would and do insist that they must create or buy them of course, but other than that again why not? Why shouldn't there be that competition in structures and forms of organisation? That all then have to compete in a market is the part that is important - to the point that while we may indeed be

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Around here we bang on, interminably at times, about the importance of distinguishing between capitalism and markets. The first is a description of who owns, the second about competition, pricing and the distribution of what is made. These are entirely different things, different axes along which to consider the structure of an economy.

We're absolutely fine with voluntary socialism - if the workers, the customers, the producers, want to own the means of production then why not be fine with that? We would and do insist that they must create or buy them of course, but other than that again why not? Why shouldn't there be that competition in structures and forms of organisation? 

That all then have to compete in a market is the part that is important - to the point that while we may indeed be neoliberals in this modern world we're not particularly capitalists but marketists. Capitalism has its advantages at scale but it's not the basic idea which must be protected and savoured, markets are.

This becomes important when running the other way. For all too much of what the "socialists" state they want is actually anti-marketism, that very thing we consider so dangerous. 

Which brings us to the John Lewis Christmas ad. They were the first to really gear up for a large campaign at Christmas, incorporating a story, using a song which would then gain significant airplay and so on. This is an excellent piece of market participation, even as others have caught up in recent years.

But do note that John Lewis is a socialist organisation, it is owned by the workers within it.

As we say, we're just fine with that voluntary socialism, it's the markets part, the market axis, which we consider the truly important part of the economy.

Tim Worstall
Tim Worstall is a British-born writer and Senior Fellow of the Adam Smith Institute. Worstall is a regular contributor to Forbes and the Register. He has also written for the Guardian, the New York Times, PandoDaily, the Daily Telegraph blogs, the Times, and The Wall Street Journal. In 2010 his blog was listed as one of the top 100 UK political blogs by Total Politics.

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