BBC, in partnership with global polling company GlobeScan, have conducted a international poll into capitalism and free markets. Here are the results for the United Kingdom:
- 23% think free market capitalism is flawed and a new economic system is needed
- 56% free market capitalism has problems – these can be addressed through more regulation
- 15% free market capitalism works well – efforts to increase regulation will make it less efficient
How fairly have economic benefits and burdens been shared in your country in the past years? (UK ONLY)
- 3% very fairly
- 34% somewhat fairly
- 36% not very fairly
- 25% not at all fairly
Thankfully, Britain does not wish to abandon capitalism for a different system – the majority of us do understand the benefits of a free market system; we just want it to be slightly fairer. A reformed and better regulated free market is what us Brits would like and our politicians are currently promoting “responsible capitalism”. Yet, we do not feel the wealth has been shared and the entire potential been explored enough; this is, of course, not a promotion of socialist style redistribution of wealth but a proclamation of fairer, lower and better taxation for the United Kingdom.
This poll does conclude that the Greens, Respect and other parties wishing to replace Labour will be restricted to the margins and protest voters – unless they embrace free markets. The majority of Britons do not reject capitalism, we just want a reformed free market.
It is glad to see we are not a nation of secret socialists.