When Cadbury finally succumbed to a hostile takeover by US food group Kraft in January, there were more than a few murmurs of discontent that another quintessentially British brand had fallen. Does the UK’s insistence on open market values leave it disadvantaged compared with more protectionist countries? Mark Young reports.
The key principle supporting an open market — one that is free from government intervention — is that it best serves markets because it allows markets to benefit reciprocally from each others’ advantages. Through competitive markets, countries naturally find their niche and develop expertise in certain markets. Innovation leading to growth in GDP and employment…
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