Who is popular today?

The revered philosopher John Rawls had it right: most citizens believe that the government has an obligation to create a just societyIn September 1931, 1,000 sailors in the British Atlantic fleet engaged in open revolt, refusing to put to sea from the port of Invergordon – one of the very few mutinies in our naval history. Sailors from all ranks were protesting against proposed general pay cuts of 10%, but also at the unfair decision to cut by 25% the wages of junior ratings and those joining after 1925 – part of the then National Government’s doomed attempt to deal with the Depression, balance the national budget and stay on the gold standard.That attempt backfired spectacularly. The 25% cut might have been rescinded to get the fleet back to sea – even the admirals conceded that it was unfair – but international investors concluded that, after a decade of government efforts to force down real wages to make British business competitive, the limit had been reached. Britain could not compel its workforce into the financial straitjacket of ever lower real wages, imposed by trying to tie sterling to the price of gold. The run on the pound proved unstoppable. Five days later, Britain gave in to reality and was forced off the gold standard. Continue reading...