Do we have a Fabian Economy?

Now I am not sure that you can describe an Economy as Fabian, but if you could, then I am pretty sure that we have one.

Quintus Fabius Maximus was a Roman General who has entered the history books famous for defeating Hannibal by doing very little and being very defensive. It was not that simple, but that is the gist and his nickname, as a result, was cunctator from which the word cunctation derives (delaying or tardy action).

The Fabian Society is also named after him and they propose change through gradual rather than revolutionary achievement of socialism.

Bringing me back to our economy, I called it Fabian, because everything now happens at a snail's pace in the commercial property world, and to some degree in the residential sphere too. Very few are in a hurry to complete deals, view, exchange contracts or make decisions. Whether it is because we are cautious or perhaps due to our mojo going, the few transactions that are about seem to take an age.

Many people take their lead from those at the top, which in our case are politicians. At the moment, we have massive government expenditure, huge borrowing, support for Europe, interference in every level of the economy, increasing powers for the local authorities, policies being driven by the tabloid press, a burgeoning health sector, gigantic capital projects being approved and a redistribution of wealth with higher pensions, and higher taxes.

Whether you agree with the Fabian Economy, or not, in reality we have a Fabian government that is very socialist in practice. Perhaps it is either that the Lib Dems are much more powerful that we give them credit for, or the Fabian Society and the Bullingdon Club are one and the same.

Whilst Quintus Fabius Maximus was ultimately successful in the Second Punic War, I do feel that we are missing a trick and this is not the right road to travel, excuse the cliche.