ResPublica launch

At the launch of his new thinktank ResPublica, "red Tory" Phillip Blond, basking in David Cameron's approval, said that one of the three cornerstones of a new conservatism was the moralised market. He fiercely criticised the tendency to size and monopoly in unregulated free markets in which the only criteria was narrow static economic efficiency. There needed to be more diversity and genuine competition. Small was beautiful. A libertarian view of the world, he said, had allowed too many mergers to go through.

What is conservatism? Various derogatory claims are often propagated. Firstly some claim that it is a mere pragmatism – that it has no ideas, guiding theme or undergirding foundation, that it is doing what works without direction or belief. Such a vapid managerialism is indeed ubiquitous, but its reach does not extend to modern conservatism. Others say the Tories are the party of vested interest – they represent the status quo, they will always defend the rich against the poor, the strong against the weak and the haves against the have-nots. Again this description captures a position, but it is not one occupied by modern conservatism. Others still say that conservatism is best expressed by a pure libertarianism, that extreme individualism, the glorification of self-interest, and the hatred of society is what best represents Tory philosophy. That again captures much, but not modern conservatism.

Phillip Blond, who has become one of the Conservatives' most influential figures, will appear alongside the Tory leader to argue that Britain's fractured society must be rebuilt around community values. Launching his think tank, ResPublica, with the Tory leader on Thursday, he will say ordinary working people have been crowded out from wealth and entrepreneurship by a 'libertarian' understanding of free markets.