Prof Philip Booth writes for the Wall Street Journal
Twenty-five years ago, the Conservative establishment in Britain welcomed proposals for the European Union’s single market as a step forward for free enterprise in Europe. The single market had many Tory opponents, but most in the party used the terms “free market” and “single market” interchangeably. Former Prime Minister Ted Heath pointed out this error in a parliamentary debate 20 years ago, suggesting, perhaps with a note of triumphalism, that the single market was not a free market.
Heath’s prediction seems to have borne out. In many sectors of the economy, the single market has undoubtedly promoted free trade…
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