Riot season

[BDG]

(3 June 2013, 10:07)River Song Wrote: She followed the economic theories of Prof Hayek just a little too slavishly. The trickle down theory did not work. One of her advisors at the time Brian Griffiths, who I was associated with in another sphere, warned her that 'trickle down' did not take account of one major factor - 'human greed' ---- and we know what happened.

Trickle down is working to this very day. It is a slow process. It is funny to see in some areas where it is spreading, local labour authorities have pursued development strategies to halt it by hemming in residential areas that are growing in prosperity and size with medium sized retail parks, 'conservation' areas sand by putting the brakes on traffic by instituting crazy traffic management schemes.

I know near me, the local council sold a parcel of land for 10% of what it would be worth if it had been sold for prestige / executive housing to create a number of offices and light industrial units, in a town where offices and light industrial units are being pulled down as they are empty to save landlords paying business rates on empty property.

All the while the market is interfered with, certain sections will need propped up and rules to benefit them at the detriment of competition. The fact is, we have never had real, true capitalism, but a poor facsimile of it.