Andrew Lilico writes for City AM
Tempting, but incomplete. To see why, we should first understand that a country’s model of economic organisation is fundamentally a political, not commercial, arrangement. Money is a form of power – a way to get things done. An economic model is therefore a way that power is allocated and channelled.
There have always been three main models of how money and property, and hence power, was to be allocated: brute force (“might is right” – money and property needs to be allocated such that order is maintained); justice (property should sit with its rightful owners, not its mere current possessors); collective prosperity (the allocation needs to promote the interests of the country as a whole, not simply of individuals).
Read the full article here.