Sunday, February 20, 2005

A Question for Free Marketeers

I once had the chance to put a question to William Waldegrave, a Tory Minister (back in the days when we had such things):-

How come that free market capitalism, which consists of sinful men (he is a Catholic, and Tories seem to believe in original sin anyway, but it sti;ll works without original sin) competing against each other for filthy lucre, which is the root of all evil, can produce the best of all possible economic worlds?

He wriggled briefly, than said "Well , that is just the way it is."

Me, I think the market needs to be guided with regulations and tax incentives and disincentives which reflect social and ecological realities.

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