Monday, November 26, 2012

Wife of New Bank of England Head Wears 'Recycled Vegan Shoes'

Diana Carney, the wife of the new BOE president, should make things interesting for the Brits. She wears recycled vegan shoes and seems to be a big Larry Summers fan. She has tweeted about him, it seems, just about under 10,000 times.

And she writes about him:
The good news — as esteemed economist and recent Canada 2020 guest Larry Summers suggested recently — is that this may be a policy area around which progressives and conservatives can come together. 
And in the same column, she then goes on a mad tear about inequality, blaming everything, I kid you not, on it:
 The promotion — using a wide array of policy tools — of equality of opportunity should help not only to encourage entrepreneurism and boost productivity (which we badly need) but also to remedy the dangerous social fragmentation that goes hand-in-hand with a perception of deepening inequality. If you are in any doubt about the nature of such fragmentation, I strongly advise reading the book The Spirit Level, which correlates almost every societal ill with inequality, and the lack of hope and aspiration that such a condition engenders.
So, let’s embrace inequality as the defining issue of our time and confront it head-on by promoting greater opportunities for all. 

This dame is really clueless. That she throws in entrepreneurship with this inequality mumbo jumbo is off the wall. Entrepreneurship is about inequality and seeing opportunities that others don't.

Further, it is the inequality amongst people that advances our standard of living. It is dangerous, in other words, to even attempt to move toward a world where everyone is equal, thinks the same and has the same knowledge. Heaven help us if we all thought the same as Carney, only held her knowledge in our minds and all started wearing recycled vegan shoes like her, for equality's sake.

Buy, hey, apparently she thinks she is going to solve the inequality "problem" in no time, because she is planning to solve other problems after inequality is conquered:
Then, my hope is that the climate agenda – which I perceive as far more intractable – will steal the spotlight and forcefully demand serious policy action.


  1. Equality means Equal in the Eye's of Governance or Law. It never works out that way because there is always some statist chomping at the bit to increase the equality of some over others for their own benefit.

  2. Arthur Krolman, CFANovember 26, 2012 at 9:10 PM

    How about equality in government handouts? Would Diana approve of that? Here's my thinking: I get zero, and so does everybody else. There. We're all equal. But Diana, why the frown?

  3. "Let them eat Nikes" is her new catchphrase!

  4. Perhaps she doesn't realize that central banking is all about inequality, flowing the new money to the politically connected and powerful. Or perhaps she does apprehend this at some level, and speaks about "equality of opportunity" to compensate for the subconscious guilt she feels.

    That said, equality of opportunity is a worthy concept, and many libertarians believe a free society would/should have a much larger middle class, and much less concentration of wealth in the hands of a few, than the crony statist system in place in most of the world.

  5. Diana may merely be compensating for subconscious guilt about benefiting from the obviously crony central banking system, but "equality of opportunity" is a worthy concept that deserves a little more respect among libertarians than calling it "mumbo-jumbo." IMHO.