Social market theorists argue that public policy should promote the use of market mechanisms, as the most effective means of allocating resources both in the private sector and in many public services. They argue that neither free-market fundamentalism nor statist approaches offer a role for government that will result in either socially acceptable or economically efficient outcomes from the market economy.
You can watch the debate here
You can read Ian Mulheirn's article here, Michael Jacobs' article here and Ian Mulheirn's reply here.
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Ian Mulheirn is Director of the Social Market Foundation. Michael Jacobs is Visiting Professor in the School of Public Policy at University College London and Co-Editor of The Political Quarterly. Chair Polly Toynbee is columnist for the Guardian.