Towards an economy that works for everyone | Letters
Surveying the legacy of the 2008 financial crisis (A decade on, rethink the relationship between the state and the market, Editorial, 15 September), you rightly call for the vacuum created by the collapse of free-market economics to be filled. But you wrongly imply that no one has done this.
In fact, there has been huge progress in building an alternative. Economists have a better analysis of how sustainable growth and innovation occur, and how the state can co-invest with industry to meet challenges such as climate change and an ageing society. It is clear that the decline in bargaining power in an overly casualised labour market has held down wages, and that both stronger trade unions and regulation are needed to raise low-income earnings and productivity.
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