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Half a Hit: Free Markets Need Competition Via Regulation

from The Daily Bell

Britain Unleashed: Why Britain needs Adam Smith more than ever … Free markets didn’t cause our current economic crisis, but a perversion of their core principles did. It wasn’t for lack of regulation that banking came apart. Under Gordon Brown, a veritable army of box-ticking, officious regulators was created, ineffectually looking in the wrong direction while the peril grew, unobserved, beneath their feet. – UK Telegraph

Dominant Social Theme: We need to create free markets that work.

Free-Market Analysis: This article from the Telegraph proposes a way to fix capitalism based on the idea that free-market thinking has traveled too far, too fast. The article,, written by Telegraph maven Jeremy Warner focuses on the appropriate amount of regulation that is necessary for a healthy economy.

The crux paragraph actually comes toward the end of the article when Warner explains how a modern economy works and what is necessary. Here’s an excerpt:

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