Human rights are not just cultural or legal constructions, as fashionable western relativists are fond of claiming. They are universal values. To den… - John N. Gray

What I liked was Thatcherism's Bolshevik aspect, which was to shake up the whole of Britain quite fundamentally, and if you read what I wrote in those years I think you might agree that in taking the view that I did then — that this was necessary and desirable — I never subscribed to the main delusion of the Thatcherites, which was that you could change everything and everything would remain the same. If what you wanted was a very anarchic, globalised, polyglot, mixed-up society in which most of the structures which had somehow been renewed from the Edwardian period to the Sixties were destroyed, then Thatcherism was what would do the job.

Hayek may still have lessons to teach us. The policies he recommended during the Great Depression may have been badly flawed but his insight that prosperity cannot be restored by unending expansion of debt may have some value at a time when the limits of “Keynesian” quantitative easing are becoming clear. It is in any case far from obvious that Keynes would have supported a continuation of QE once a disastrous collapse had been averted. “Keynesianism” is a confection of Keynes’s more mechanical disciples, not an indication of how this mercurially brilliant mind would have responded to our present dilemmas. Again, Hayek’s claim that nothing can be done to mitigate the impact of free markets on social cohesion was dangerously misguided. But he was right to point out that capitalism cannot be remodelled to fit some conception of an ideally fair distribution of resources. Whether any kind of social democracy can be reconciled with the anarchic energies of global markets is an open question.

Liberals tend to regard being subjects of the Queen as an insult to their dignity. But at least the archaic structures by which we are ruled do not force us to define ourselves by blood, soil or faith, and we are protected from the poisonous politics of identity.