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Are free markets bad for good food?

Genuinely free markets are not the enemies of a sound food economy. The problem is with under-regulated markets. To some ‘regulated market’ is an oxymoron, but this is a historical and factual mistake. Free does mean unfettered but free from distortion by manipulation or misinformation. That is why Adam Smith, for example, favoured breaking up monopolies and cartels. Markets need to be regulated in order to be free, fair and sustainable.

Chapter in Food & Markets: Proceedings of the Oxford Symposium on Food and Cookery 2104


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