"I wanted to write this new book on value, sort of to start from ground zero," he says. "What do we know about that word? What is value?" After Ed Miliband lost the 2015 election, there was a spate of articles by Labour Party members saying 'we lost because we hadn't embraced the wealth creation process' But in order to say that and argue for a different governance model, you have to really hold up your end of the bargain, argues David Frum.

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