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Peter Wilby in the Guardian makes the case that it is the over-protection and under-regulation of rent-seeking monopolies that stifles inovation, not excessive bureaucracy and taxes.

 

'In short, rent-seeking is now far more lucrative than innovation that delivers social benefits. The big rewards go to directors and executives of large companies - and financial traders, the ultimate rent-seekers who impose an unproductive tax on inventions, investment and hard work across the world.'


NZ's proposed entry to the TPPA seems likely only to extend the advantages of such monopolistic rent-seekers as 'big pharma' and financial traders, removing them from the regulatory oversight of our elected government.

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