Why free markets need equality

The conventional (and conservative) wisdom is that free markets needs inequality to create incentives for ‘wealth creators’. Chris Dillow, one of my favourite bloggers, argues instead that free markets need equality. As he puts it:

 

If you are serious about wanting free markets you must put in place the conditions which are necessary for them – namely, greater bargaining power for tenants, customers and workers. This requires not just strong anti-monopoly policies but also policies such as a high citizens income, full employment and mass house-building.

In short, free markets require  egalitarian policies. Free marketeers who don’t support these are not the friends of freedom at all, but are merely shills for exploiters.

(21 June, 2017)

 

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s