Thursday, 9 September 2010

Morning Scepticism: Free Market

What the GFC showed is that the idealised model of the free market doesn't work, it turns out that large corporations don't exist in a vacuum, the interconnected nature of businesses with people and jobs made bailouts a necessity. That they ought to have been allowed to go under would be of little comfort when many are put out of work and flow-on effects harm other businesses depending on the business of those who derive such an income.

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