What did I think about Brown? I’ve said before, I don’t like his kind of politics. I didn’t really meet him properly but I identify him with state, s… - Maurice Glasman, Baron Glasman

The list of characteristics of the good life suggested by Lord Skidelsky include neither work nor politics and that indicates that there is a problem with understanding power. Part of a good life is not to be dominated by the rich and the powerful and that can only be done through asserting the necessity of recognising labour as a value so that the people who do it are treated humanely and that involves the other thing that defines human beings, they can get together and change things through the power of association. Politics is part of the good life too although I can tell you it doesn’t always feel that way.

One massive issue is that [in government] we did not promote regional flourishing. To put it bluntly there was not enough private sector growth in the north east, the north west, the midlands and south west, and the south east was financially driven which had its own problems. I share your disposition about capitalism, but I look at Tesco and think, it’s cheap, healthy food, and it has transformed the lives of the poor. Yet we hate them. When London Citizens did a living wage campaign against Tesco what we found was enormous middle class loathing while the working class had a love for Tesco. They love the fact that the food was fresh and cheap and the environment was safe. And when they bought a small package of mince they didn’t have a butcher going, ‘Ah, tough week, eh?’ They didn’t feel humiliated. That’s just a tough example I put out there to say we’ve got to build alliances and relationships with the powers. We’ve got to look at how we can get Tesco to foster regional diversity.

The story of the Northern Counties Building Society is instructive. Established in 1850 in the North East by dispossessed workers who pooled their funds to retrieve a home in the world it grew steadily over the years. It was part of the local economy and society, that most precious civic inheritance, a trusted financial institution. In 1965 it merged with another local institution, the Rock Building Society to become Northern Rock Building Society. It demutualised in 1997 and became Northern Rock, which sponsored Newcastle United and became the fifth biggest lender in the UK market. An institution that was founded by local people for local people and had partnered its region in good times and bad for a hundred and forty seven years, that had weathered four serious depressions and emerged stronger from each could not last through New Labour’s period in Government.