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Hayek remarked that totalitarian governments reduce people to a state of serfdom, but increasingly there are voices telling us that they would prefer to be state serfs than in thrall to the market. I do not refer to the harmless zealots of the Occupy movement, or the left wing tax and spend economists. I refer to the intelligent, thinking people whom I encounter in many walks of life who tell me, quite seriously, that they believe the financial system is failing the people, is letting them down.

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