“Capital has just become completely disconnected from the people. Labour was born in the world to resist the domination of capital. That’s our thing. So we say that five percent of the bailout should be used to recapitalise local banks. It’s our money anyway. Those local banks should only lend in the area that they’re in. Germany’s a very successful, a very, very successful example of how this can work.”

— Maurice Glasman, Baron Glasman

Interview with Australian Fabians: http://www.fabians.org.au/interview_with_maurice_glasman

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Maurice Glasman, Baron Glasman 49

British philosopher 1961

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“I would suggest that we use 5% of the bailout money to endow the Banks of England, which would be established in the counties and cities of England and would be constrained to lend within the county or city. The principal of the endowment would be in trust to the people of that county or city, in perpetuity so that it could not be liquidated by its members, and the balance of power in its corporate governance will be held by a third being held by the Bank of England, a third by its workforce and a third by the civic institutions of the locality. These newly constituted ‘Banks of England’ are one of the essential feature of Blue Labour statecraft built upon endowment and institution building.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Blue Labour, An Ancient Polity For A New Economy? http://www.bluelabour.org/2012/06/19/an-ancient-polity-for-a-new-economy/

“I am working with Unite in Salford to set up the Bank of Salford. It is going well. They have consolidated the credit unions, put money in, the city council will put their pay roll through it to stabilise the asset, the government are supporting it with advice and lowering entry requirements to become a bank that can lend to businesses as well as families. It will be bounded within Salford, there will be local residents on the board as well as institutions, but Unite cannot do it on their own. There needs to be a partnership between the Church and labour that can put some constraint on capital without relying on the state. Relational accountability and democratic governance are key to this. That is how the old bones will walk again, by renewing a commitment to the common good in action. It’s a great thing to do.”

Maurice Glasman, Baron Glasman (1961) British philosopher

Blue Labour, Tackling Poverty Together http://www.bluelabour.org/2013/11/24/tackling-poverty-together/

“His capital is continually going from him in one shape, and returning to him in another, and it is only by means of such circulation, or successive exchanges, that it can yield him any profit. Such capitals, therefore, may very properly be called circulating capitals.”

Adam Smith (1723–1790) Scottish moral philosopher and political economist

Source: (1776), Book II, Chapter I, p. 305.

“The difference between successful people and very successful people is that very successful people say “no” to almost everything.”

Warren Buffett (1930) American business magnate, investor, and philanthropist

Variant: The difference between successful people and really successful people is that really successful people say no to almost everything.

“No one has a natural right to the trade of a money lender, but he who has the money to lend. Let those then among us who have a moneyed capital and who prefer employing it in loans rather than otherwise, set up banks and give cash or national bills for the notes they discount. Perhaps, to encourage them, a larger interest than is legal in the other cases might be allowed them, on the condition of their lending for short periods only.”

Thomas Jefferson (1743–1826) 3rd President of the United States of America

ME 13:277
1810s, Letters to John Wayles Eppes (1813)

“I think it's good that older leaders have made room for the younger generation. When we started, we worked very hard for very little money. Now we give employees very attractive wages. Other state-owned enterprises should follow our example.”

Liu Chuanzhi (1944) Chinese businessman

Source: The Scientist Who Could http://edition.cnn.com/ASIANOW/asiaweek/97/0613/biz2.html in Asiaweek (2000)

“We have just seen that, apart from money-capital, circulating capital is only another name for commodity-capital. But to the extent that labour power circulates in the market, it is not capital, no form of commodity-capital. It is not capital at all; the labourer is not a capitalist, although he brings a commodity to market, namely his own skin.”

Karl Marx book Das Kapital

Source: Das Kapital (Buch II) (1893), Vol. II, Ch. X, p. 211.

“Our success has really been based on partnerships from the very beginning.”

Bill Gates (1955) American business magnate and philanthropist

“We begin with the people and they have to define the position. So relationships first, then build power among those people where they agree. So, based on support for thing like regional banks, interest rate cap, living wage, a very, very different kind of agenda. The words we don’t use much are equality, diversity, accessibility, inclusivity, because that’s not where people are. We work on living wage, anti-usury, regional banks, vocational colleges, workers on boards. And it’s a real change in the way that the party works.”

Maurice Glasman, Baron Glasman (1961) British philosopher

On the community organising agenda of Blue Labour, Interview with Australian Fabians: http://www.fabians.org.au/interview_with_maurice_glasman

“Blue Labour has complete disrespect for the managerialism of New Labour and has much more honour for the workforce. If you talk about schooling, we'd like to see parents have a third of the power, teachers have a third of the power and the funders – whether it's the state or local authority – a third of the power, and negotiate a common good. New Labour sought managerial solutions in the private sector and that's what led to the banking collapse; they sought managerial solutions in the public sector which led to the erosion of the public ethos – so we will put people first, relationships first and that's a very different thing.”

Maurice Glasman, Baron Glasman (1961) British philosopher

The Guardian article, 30 June 2011 https://www.theguardian.com/politics/2011/jun/30/labour-guru-german-public-service-vision

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Maurice Glasman, Baron Glasman 49

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