Thatcher-era Toryism is in long-term decline. The Legatum Institute, the unabashedly pro-free market think tank, produced a thorough report on public attitudes to the economy as the dust settled from the 2017 election campaign. In slightly shocked tones, it revealed something that those on the Left had known for some time: not only had the bottom fallen out of public support for neoliberalism, if it ever had much support, capitalism itself was open to question.

Four in ten people think capitalism is “greedy,” three in ten think it is “corrupt,” three in ten think it is “selfish.” Conservative voters are slightly more positive but, to quote the report, “they still associate it with greed, selfishness and corruption more than anything else.” Socialism, by contrast is viewed far more positively: whilst voters think capitalism is greedy, corrupt, and selfish, the top associations for socialism were that it “delivers most for most people,” was “for the greater good,” and was “fair.”

On nationalization, support is overwhelming: 83 percent want water renationalized. 77 percent want electricity back in public hands, 76 percent for trains. There’s even 23 percent of the public who want travel agents brought into public ownership. Asked about different free market policies, voters overwhelmingly choose more regulation over less, more public spending over less, and would rather tax the rich than see them “being rewarded for working hard” (their words, not mine).