Monday, 26 February 2018

Free markets are better for fairness and equality than the state

Yet again we have evidence of how systems dominated by non-free, constrained or licenced systems (or else directly controlled by the state) are less fair and equal than free systems:

Business - that's the free market - is by far the best sector for social mobility. Rather than as with the law (what a surprise) where the man at the top being ten times more likely to be privately-educated, he's only four times more likely in the private sector.

This is because, unlike state-controlled systems like law, medicine, the army and the civil service, the private sector doesn't have the luxury of relying on Daddy and thereby ignoring 90% of the population. If you're good, your chances of getting to the top in private business are far higher. As a result private business is more innovative, more diverse and more creative than the public sector. This is because without that innovation and creativity businesses fail. And without diversity you miss out loads of people who'll bring to the skills, talents and originality you need to succeed.

Every time we look at the world, we see that free systems - markets, trade, speech, assembly, choice - deliver a more equal society. A society that can't be gamed so much by the wealthy, well-connected and fortunately-born. As I've observed before, it beats me why the left has such a down on freedom when it delivers the goods on fairness and equality better than their preferred state-directed utopia.


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