Before becoming a politician, Godfrey Bloom worked in the City of London for forty years & won fixed interest investment prizes. Discontent with over-regulation of this sector, he entered the world of politics in 2004, as a Member of the European Parliament. Bloom represented Yorkshire as an independent MEP for ten years. He is an Associate Member of the Royal College of Defense Studies, holds the Territorial Decoration, Sovereign’s Medal, European Parliamentary Medal & Westminster Armed Forces Parliamentary Medal. He is also an author with seven books to his credit. He is married to one of Europe’s leading equine physiotherapists.
He is known as a firm opponent of government regulation and centralization. Bloom is also widely known as a euro-skeptic and was heavily involved in the Brexit “Leave Campaign” as an independent activist.
Claudio Grass: Godfrey, it is a great pleasure to have the opportunity to speak with you again to discuss capitalism, Brexit, the nature of the “EUSSR”, public education and free speech. Let me start with the first question. The UK basically asked the EU for free trade, meaning no customs or taxes on any goods traded among UK and EU. This sounds pretty reasonable especially for people like us, who believe in free markets and oppose government interventions. This brings me to core of the question. In today’s media and public consent our economy is called a free market economy, therefore it is operating under a capitalistic system. Can you give us your explanation of how you would describe a capitalistic system with free markets and its benefits and how you would characterize the actual system that is currently in place? Also, what is your opinion about the reaction of the EU refusing free trade with the argumentation that this would be cherry-picking and therefore such a deal has never been done before in the history of the EU – what does is say about the nature and character of the EU and the system we are living in?
Godfrey Bloom: Whenever I am asked about the rights and wrongs of capitalism, more often than not at universities the wrongs, I have to persuade people that there are almost no capitalist economies in the world today. Back in the 1960s, an economics exam response would expect a candidate to understand the difference between capitalism and mercantilism. The phrase today for mercantilism is often crony capitalism. This is unfortunate because it hints that the two systems are the flip side of the same coin. They are not, they are quite distinctive economic systems. Most industrial democracies are mercantilist.