The horrible truth is that central planning never works: just as the authorities cannot possibly know how many widgets an economy ought to produce, or what the “right” price for goods will turn out to be, they cannot possibly know many decades in advance what skills will be required, or what percentage of school-leavers should go to university. It is hard to fathom what Tony Blair was thinking when he promised that half of 18-year-olds would go to university. The result has been betrayal, broken dreams, graduates working in coffee shops, a business community that still cannot find the right people with the right soft and hard skills, and a generation of young people crumbling under ever larger student debts. It’s a social catastrophe for which nobody has yet paid the price; even worse, it remains politically unacceptable for those in a position of power to point any of this out.