Labour's tax increases and regulations

The complaints from rich people and businesses, that Labour's tax increases and regulations will be have some deleterious effects, show that it would fix problems that vested interests don't want fixed.

In a market-based economy, any change in one variable affects many others. Pulling on one string reshapes the rest of the network a little. Some of those secondary effects are good and some are bad.

The fallacy in those arguments is that they exaggerate the significance of the bad secondary effect, inviting the reader to assume that it will outweigh the primary benefit of the action. Sometimes that does happen, but you can't take the word of the complainers for that.

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