Pic c/o Admiral Cod
Nice thought from my chum Peter York this morning on the radio, countering the general wailing and gnashing of teeth at the passing of great British/American (delete as inappropriate) icons in the current economic storms.
Talking about Viyella's demise, Peter points out that the current Viyella business is essentially a mix of faux-nostalgia for the age of Empire and the cheap finance of the last decade rather than real vibrant things really creating value today
How many of the moribund giants limping towards the graveyard – the Fords, the GMs and the like – are similarly relics of a past we look back on fondly, kept alive by cheap money….
Maybe one way of looking at what John's book draws our attention to is not the failure of marketing to do the great stuff which he rightly says creates real value, but the oversupply of cheap finance…? [NB John we'd still love to hear your response to the comments from Herd readers here]