“Free markets alleviate poverty by making everyone richer, and so widening inequality matters little”
The growing dissatisfaction in the U.S. is that in recent decades everyone has not been getting richer. Many are barely meeting living expenses and many are living on increasing debt.
“Free markets create social mobility within a meritocracy, allowing people from poor backgrounds to succeed”
The financial gap between low income and middle income has increased as has the gap between middle income and upper income. The opportunity for financial upward mobility has decreased.
“Free markets allow every person to keep more of what they earn, incentivising work and productivity”
Too many people are unable to save anything. They feel like they are just “treading water” and eventually just quit trying.
“The wealth created by free markets allows the state to provide the assistance required for those who cannot help themselves through only minimal taxation”
When the burden of taxation becomes too great the tax paying electorate will rebel. Politicians realize this and fund social programs with public debt instead of taxation.
“state capitalism, rather than state socialism, allows nationalisation and redistribution within a free market, reaping the benefits of a free market with the promotion of equality of opportunity and outcome”
What is your definition of “state capitalism”? I suspect the majority of the electorate for both major parties view the federal government as inept, inefficient and ineffective. Why would they agree to “state capitalism”?
“an unequal society leads to division and resentment, often creating democratic deficits and regressive political discourse”
Potential civil unrest due to decreasing upward economic mobility is the main justification for both liberals and conservatives to support reversal of the trend over the past decades. I support financial incentives (tax advantages) for benefit corporations, employee owned businesses and worker cooperatives to improve the plight of the working class. I also encourage a resurgence of the influence of unions to improve worker compensation.