free markets perspective, examine the ethics and morality of 'let capitalism rip' allegation made by British Prime Minister David Cameron. (Guide: 750 words)

The competence or incompetence of free markets and the implications of resource allotment to agents in an economy continues to be a passionately debated topic within economic and political circles. "In reality, markets are prone to inefficiencies when a number of factors arise" (Mendes, n.d.). A key principle of the free market philosophy is that businesses should focus exclusively on maximising shareholder value and not allow other considerations, apart from compliance with the law, to intrude on their business activities. This is what governments over the past 30 years have lived by. And that's what still protects big business from having to pay for its own excesses. The speculative banks, the oil companies, the private equity and hedge funds, all steal from the tax payer with total...
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