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Picking Losers
December 2011

Harriet Harman, Labour's deputy leader and shadow culture secretary, goes even further. She claims employers discriminate against women and pay them less than they are really worth. By proposing to pass a law that imposes compulsory female quotas in boardrooms, she forgoes a wonderful business opportunity. She could start a business, hire all these brilliant but underpaid women and kick the butts of competitors that employ mediocre men at the same wages. Or Mr Cameron could let some of his mates know about the banks' mistakes and they could make a killing lending to small businesses.

If you had the prescience that allowed you to pick winning Lotto numbers, would you pass a law forcing everyone to select those numbers? Would you even announce the numbers in public? Are you that selfless? Politicians who claim their bullying is merely an attempt to force unnoticed profit opportunities on to stupid business people would have us believe that they are. 

There is ample evidence that politicians are neither business geniuses nor saints. A policy that requires us to believe them to be both should be greeted not simply with scepticism but with howls of laughter.

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