The deluded are still out there

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FT.com / Markets / Insight - Insight: More capitalism, less regulation.

I just blogged in praise of sane people.

The I read the article noted above. It concludes:

Today, if rates of return are to rise, it requires not necessarily capitalism “red in tooth and claw” but certainly more capitalism rather than less. The problem is that in most countries policies are moving in the opposite direction: more regulation (it’s called “better” but it means “more”) and, from some quarters, a desire to replace Anglo-Saxon capitalism with European corporatism.

Then I noted the biog of the author:

Derek Scott is a member of the Investment Advisory Board of Vestra Wealth and was economic adviser to Tony Blair, former UK prime minister, from 1997 to 2003

Which says a very great deal.