What stopped Stoppard?

Two programmes this week presented two radically different world views, or rather ways of life. Aditya Chakrabortty’s series for Radio 4, Decoding the News, looked at five words or phrases which have come to characterise how politics, finance and business operate in the UK. We entered a world of policy wonks and pundits, of words used not to enlighten or explain but to calculate and confuse. A world in which those who tell stories get all the attention, while those who insist on sticking to the facts are ignored or on occasion ridiculed. It made for chilling listening as, for instance, Chakrabortty deconstructed the meaning of that slippery term, ‘shareholder value’.

Once upon a time, he suggested, before the 1980s, the annual reports of companies were interested in the product being made and the market share of that product; rarely was there any discussion of share price and nothing at all was said about shareholder value.