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Reference:
2011/0558
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Question by:
Len Duvall OBE
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Meeting date:
23 February 2011
In a 7 February article for the Evening Standard about economic inequality, Jenni Russell wrote in relation to the unfettered free market model: 'economies as unbalanced as these, where ordinary people are getting a shrinking share of wealth and borrow to compensate, are going to fall into periodic and extremely expensive crises. It is much cheaper for the world, says the IMF, to have fairer taxes and incomes and more redistributive policies in the first place'. Is the model proposed by the IMF a viable one for London?