Allister Heath, an opinionated and articulate speaker on economic affairs, has today penned his last column as Editor of the London-based newspaper City A.M. Having been with the company for six years, which has now grown to an audited print circulation of 128,781 copies per day, he has transformed the newspaper into one of the most influential voices in London’s business community.
Allister’s parting thought for readers was that Britain needs to learn to love capitalism if it is to fulfil its full potential. He believes that “far too many people object to far too many of the institutions and practices that have generated the astonishing wealth and prosperity we take for granted.”
Whilst he notes that “the international authorities are still working on plans for a completely new bankruptcy code and system for large, systemic financial institutions,” Allister calls for a cultural revolution in the UK and across the Western world, arguing that “reinjecting the fear of bankruptcy into the system is the solution: it will mean that market mechanisms will be able to start disciplining finance again, and that we will no longer need to rely as much on heavy-handed and often flawed regulations.”
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