The Conservative Party needs a moral reset

A party member recalls that Adam Smith was a moral philosopher as well as an economist.

Jean Kabasomi

Jean Kabasomi works in financial services in London. She also writes and broadcasts.

A statue of a Georgian man looks to the left.

Adam Smith, looking right to left.

Glasgow University.

The election of a new government in the United Kingdom has felt like an opportunity to fix some of the daily challenges faced by the people of these isles. As a member of the Conservative Party, it also presents the chance for those of us who are Conservatives to take stock of what it means to be conservative and how best that definition can serve the people of the UK in a way that benefits the whole and not just specific parts.

Those who follow the internal machinations of the Conservative Party will know that the battle for a new leader has already begun. For the most part, it has focused on whether the Party needs to move to the right to combat the offering by the new kids on the block – Reform, or to the centre in order to block the leaking Shire vote that shifted to the Liberal Democrats. I want to propose a different approach.

For years as I was growing up, probably influenced by the media and how it presents politics, I assumed that the idea of a minimum wage was a socialist idea or what we might today describe as progressive politics. Things changed, when I studied the history and influence of Christian thought on Western economics, as part of a Masters in Biblical Studies at the University of Edinburgh.

Adam Smith is the father of modern capitalism and hero to many conservatives. His foundational text, The Wealth of Nations, was on the reading list. Prior to these studies, I had heard and seen many conservative commentators use that text to support their claims around small government. I had also seen liberal commentators vilify his work for being the source of our broken Western systems. Many claimed that it was the basis for the economic thought and principles of Hayek and Friedman, the prominent economists who influenced the policies of the Thatcher government in the UK and the Reagan government in the US.

It tells us that our dogmatic positions should not prevent us from focusing on what is in the best interest of the people that politics and economics are supposed to serve.

When I read The Wealth of Nations for myself, I was shocked. I couldn’t believe how much of what he had actually said was ignored or had been misrepresented. Reading it for myself changed my assumptions and my learned narrative on capitalism. One of my greatest surprises was that Smith held what I had known to be a socialist policy, the idea of a minimum wage. To him it was such a fundamental truth that it was only briefly mentioned. Perhaps, that’s the reason so many people miss it.

Another shock was discovering that Adam Smith wrote about the place of government in regulating large corporations. For Smith, the wealth of large corporations was to be invested back into the areas from which the company was built. Jobs were to be kept local so that as many people as possible in society benefited from the wealth generated. Smith outlined that government regulation should prevent large corporations from moving their manufacturing operations to cheaper international locations to reduce costs and sidestep local communities.

Adam Smith, the father of capitalism – a protectionist and believer in the rights of workers! But what has this got to do with a discussion about the Conservative Party? It tells us that policies that do not always favour corporations but help workers or local communities are not unnecessarily anti-capitalist and by extension unconservative. It also tells us that our dogmatic positions should not prevent us from focusing on what is in the best interest of the people that politics and economics are supposed to serve.

My party needs to move away from policies that are focused on ideological battles and economics rooted in abstract ideals. And, instead, look to policies that will tangibly help everyday people. Or put differently, the party needs to move away from Oxford Union politics (I have nothing against the Union, I am a lifelong member!) and focus on real-world grown-up politics that improve the lives of the ‘many not the few’!

Lord Cameron tried to move the party to a position often dubbed Compassionate Conservativism. In fact, the origins of capitalism have long been connected to moral principles. Adam Smith not only wrote The Wealth of Nations but also considered issues around morality in his The Theory of Moral Sentiments. For a government to govern effectively and an opposition to oppose properly, morality and the interests of the many must be reflected in policy. And in my humble opinion, it is not unconservative to do so.

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Hospitality

29 October 2024

2 min read

A budget for belonging - why social infrastructure deserves investment

Loneliness is a deep and costly social challenge.

David Barclay

David is a partner with the Good Faith Partnership, collaborating on solutions to social problems.

Warm Welcome Campaign

There has been much discussion in the run-up to the Budget about how changing the ‘fiscal rules’ could enable Rachel Reeves to invest more in physical infrastructure like green energy, schools and transport projects. But what usually gets less focus in these discussions is the vital role of ‘social infrastructure’, and how public funding can help build a more connected society.

We are facing many challenges as a country, but few are as deep and costly as loneliness. Nearly half of UK adults report feelings of loneliness, with seven per cent experiencing chronic loneliness (defined as feeling lonely always or often). More than 1 million people over 75 report going over a month without speaking to a friend, neighbour or family member. Loneliness is strongly linked to mental health issues such as depression, anxiety, and stress. It can lead to lower self-esteem and exacerbate existing mental health conditions. Chronic loneliness is associated with various physical health problems, including cardiovascular disease, weakened immune function, and increased mortality risk. Studies have shown that loneliness can increase the risk of premature death by up to 26 per cent.

Loneliness is a global issue, and it’s not a surprise that countries around the world are starting to develop strategies to respond to this highly significant public health challenge. Seoul in South Korea is putting $326 million toward combating the scourge of loneliness and preventing the growing number of “lonely deaths.” The new initiative in the South Korean capital plans to set up a 24-hour hotline for people feeling isolated, expand one-on-one mental health counseling services, and open four locations next year where people can have meals and talk to others.

Closer to home, the Welsh Government has just announced a £1.5m funding package to support Warm Spaces this winter as a way to tackle both fuel poverty and social isolation. I’ve had the privilege over the last three years to lead the Warm Welcome Campaign, a network of over 4000 community spaces across the UK who initially came together in the height of the energy crisis to keep people warm through the winter. What we have learned is that people might come for the warmth but they stay for the welcome, with rates of chronic loneliness plummeting through engagement with a local community space.

Given the slow but steady erosion over the last decades of physical spaces in communities where people can connect, the new Government would be wise to consider how we can turn the tide on this and develop a flourishing national network of spaces of connection and belonging.

Government funding for this kind of social infrastructure might seem outside of the norm for a Budget, but it would represent an investment of public funding which could reap huge long-term dividends.