Today's eternal truth - free markets reduce inequality

This can't be said too often - but too many folk from left, right and centre seem incapable of grasping the cause of inequality:

But extreme inequality is in fact caused by insufficient competition. Given that competition is the lifeblood of capitalism, it follows that inequality is the result, not of capitalism, but of a lack of capitalism.

This is why we need free markets (and why equal societies like Denmark and Sweden have them) - not so evil business people can make bigger profits but because they lead to fairer societies. Big business - you only have to look at the CBI's enthusiasm for mercantilist, protectionist policies - loves the sort of back-slapping, lobby-dominated, regulation-heavy arrangements that the US federal government and the EU are so keen on.

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