Fake capitalism

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Andrew HN Gray (Letters, 15 January) is wrong. We do not live in a free market at all but in a highly taxed and regulated mixed economy. This has not led to strength in an undivided 
country but, instead, to boom and bust due to the previous government’s intervention in the money supply by means of the central bank. Further, the policy of 
successive governments has been to constantly increase taxes, regulation and spending in response to both economic growth and economic contraction.

The result has been to punish success and reward failure, most notably in the case of the bailing out of failed banks with money taken from those who had lived within their means.

Whether independent or as part of Britain, Scotland cannot afford to violate the laws of economics, and this means rejecting both socialism and interventionism masquerading as capitalism.

Bruce Crichton

Victoria Road