Reply to post:

Hey, folks. Meet the economics 'genius' behind Jeremy Corbyn

Alan Brown Silver badge

The current system which has led to falls in poverty has precious little to do with western economies and a lot more to do with either dismantling naked capitalism or naked statism - both are equally as economically repressive when looked at overall.

"Free markets" are a myth. If they are free of government intervention then you get mercantilism and stagnation due to power and wealth concentrating in the hands of capitalist robber-barons, as happened throughout the 18th-19th century and if overregulated then you get stagnation due to bureaucratic overload.

The "free" part which is generally referred to now, is "free from either extreme".

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2019