Hedge fund boss Sir Paul Marshall addressed the inaugural ARC Conference 2023 in London on the topic of free markets and good governance, arguing that “predatory behaviour” is “rife” in financial systems and calling for an end to “crony capitalism.”
“What we have seen since the 2008 crisis to the present day may be the largest transfer of wealth from the poor to the rich since the Norman conquest,” said Sir Marshall.
Yet the problem is not with free market Capitalism which has brought untold prosperity to the world, argued Sir Marshall, but with its ‘mutant’ siblings – Monopolies, Cronyism, and Woke Capitalism.
Sir Marshall called for society to “‘rejoice in the abundance that true free enterprise and free markets create”, noting that “extreme poverty has fallen from 90% to 10% [and] … it has halved in the last twenty years alone”. He stated that “free market capitalism is the greatest instrument of poverty relief that the world has ever seen”.
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