Dr. Eamonn Butler biographer of Adam Smith says…

“Business Secretary Vince Cable is wrong on capitalism and wrong on Adam Smith. Unfortunately, we have a business secretary who doesn’t understand business and who misinterprets the founder of modern economics too. It is not capitalism that kills competition. It is regulation, and regulated capitalism. Adam Smith was perfectly clear… Where free competition reigns, businesses cannot keep out competitors. Government policy should focus on increasing competition, ensuring that trade is honest – and on reducing other regulation.”