I’ve been watching an old documentary series ‘The Mayfair Set’ on BBC iplayer.

It’s uncanny seeing things that happened during your childhood, and realising what was really going on.

They called it ‘creative destruction’ but it was simply asset stripping.

Of course it’s all happened many times before, and it’s happening again.  Only now we call it private equity.

One thing’s for sure, capitalism it ain’t.

Just ask Adam Smith.