Karl Marx once remarked to Friedrich Engels, his lifelong friend and collaborator, that there were sometimes uneventful decades in which years passed as though they were just days. But, he added, “these may be again succeeded by days into which years are compressed”. The current period in Britain is like the latter. Events are moving at a blistering pace.

The strategists of British capitalism are getting jittery. Even the Chancellor of the Exchequer, Philip Hammond, is worried. Capitalism is having a bad time of it. Conservatives, he said, should continue to make the case for the market economy — a model which had evolved “down the ages”. “This mission is urgent,” he stated recently. But why the urgency?

It’s been a turbulent time for the aviation industry recently. And now another airline looks unlikely to weather the storm. Flybe is up for sale, with the regional air carrier calling in accountants from KPMG in an attempt to save itself from collapse. Half-year profits have plunged and the company’s auditor, PwC, warned of “significant doubt” over its future. KPMG's involvement should have instantly set alarm bells ringing, as they were also the administrator of Monarch Airlines last year.