Tag: Economics
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Do people want fairness or equality?
The conservative Prime Minster Winston Churchill said, The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries. Winston Churchill, speech in the House of Commons (22 October 1945). The idea that equality is a good thing is now firmly established under both Labour and Conservative…
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Free markets are an antidote to taste discrimination
I have previously written about the detrimental effects of rational discrimination in employment. While this makes good sense for any one employer and his employees (because no-one wants an unproductive colleague) it is damaging to every employer and employee because it reduces the number and skills of possible employees. The opposite of rational discrimination (irrational discrimination) is…
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Income inequality – globally down, locally up. Bad for the Brits
This is a very interesting article about the effect of globalisation on income inequality. It shows how the rise in income for the global poor is linked to the stagnation of middle and lower class incomes in the West. http://www.theregister.co.uk/2014/09/28/inequality_rising_screw_the_one_per_cent/
Dr James Bayley 