Blair's deceptive slogan

In his article, 'A prophet for our time' (The Sunday Times, June 21), Fr Peter wrote that "Tony Blair's policy... was that of capitalism 'with a human face'", and also that ''neo-liberalism" is "capitalism in its post-Keynesian form".

Mr Blair made use of the deceptive slogan, "capitalism with a human face", to promote his Thatcher-like economic policy that was widely recognised as favouring business and the rich.

Who could possibly believe that "neo-liberalism" means "capitalism in its post-Keynesian form"?

The mention of capitalism brings to mind how the late economic historian R. H. Tawney had defined it: "Capitalism is not so much un-Christian as anti-Christian, and not least anti-Christian when it summons Christianity to its defence".

The following two quotes, chosen at random, are certainly far from containing any hint of neo-liberalism or capitalism:

1."The post-Keynesians extend Keynes' theory to argue that investment is a primary determinant, not only of output and employment, but also of the distribution of the national income between wages and profits."

2. "Post-Keynsians, in contrast to neo-liberals, are against major disparities in income distribution as the market mechanism ceases to function equitably since it is weighted heavily in favour of the purchasing power the rich command."

Moreover, post-Keynesians increasingly recognise that economic growth does not automatically filter down to the poorest levels of society.

As regards neo-liberalism, I prefer to refer to the narrow neo-liberal freedoms that the former US President George W. Bush placed at the centre of his political rhetoric: "The only way to confront the problems is for the state to cease to regulate private enterprise, for the state to withdraw from social provision, and for the state to foster the universalisation (read, Americanisation) of market freedom and market ethics".

Do market ethics really exist?