Capitalism and the Ivory Tower Intellectuals

This post is inspired by two articles published in the Financial Times by Luke Johnson, British serial entrepreneur and Chairman of Channel 4 and the Royal Society of Arts, in which he neatly summarizes the most basic challenge facing prosperous western countries in decline. The first is titled “Capitalism is still the best system there is”, the second “Choose enterprise over the ivory tower”. Both are behind paywalls (capitalism) but may be read free by registering (incentives). They need to be read in their entirety. Here are snippets:

Where do they think the money to pay for roads, schools, police and hospitals comes from? Do they believe that consumer innovation, technological advance and the funding for taxation emerge from the saintly public sector? Why is the profit motive seen as wicked, while working in places such as universities appears so very ethical?”