- Wed Jan 22, 2014 2:52 pm #355920
Not bothering to link to the column, prefer this.
ohforheavensake • 15 hours ago
Allister- dear me. You're really going down with the free market ship, aren't you? Because the free market tends to work toward the concentration of wealth and power, the free market creates crony capitalism.
Sorry, but this is just true. You seem to have this idealised image of the market, where we should '...promote competition, tear up barriers to entry, unleash consumer choice, eliminate subsidies and soft loans and make sure that the only way an entrepreneur, a CEO, a banker or an investor can make money is by serving customers, discovering new opportunities or allocating capital more efficiently.' Trouble is, once you've set this up and it's benefitted the first generation of businessmen, those businessmen then tend to congregate, and to form the crony cartels you hate. So, unless you're prepared to redistribute that wealth, it will clog up at the top of the system: which is what it's doing now.