Socialism / notes

Mark McIlroy

March 2021



Deregulation that started in the 1970's and 1980's was promoted as a way to increase wealth through business' freedom to innovate and produce new business models.

This effect has largely come true.

However deregulation may have increased the concentration of wealth. When businesses and employees are in a free environment, the net effect is that prices and wages get bidded down to the lowest sustainable level, in efforts to gain customers and employment.

This is ultimately harmful as businesses are left with insufficient profits to invest in growth and product development.

One solution would be minimum regulated prices for products which would alleviate this effect.