quinta-feira, setembro 30, 2010

Capitalism, a two centurys old mistake...

"Many economists today still have a Smithian* objection to any form of market regulation, clinging determinedly to his notion that all intervention is necessarily harmful to the markets and thus - because economic growth has been enthroned as the barometer of a nation's health - harmful to society as a whole. Yet there is not a single economic theory that can show that a totally free market sets the socially most beneficial price for goods, or lead to their optimal distribution."

In "Critical Mass" by Philip Ball

This means that we are ruled by a bread of politicians who have, as their unique goal, economic growth, instead of more logical measures of civilizational advance, like quality of life, literacy or health and, even more seriously, still follow economic models based on the society of the 18th century, which are not confirmed by current mathematical and economical models, and haven proven time and again that they fail to provide for the well beeing of the people who live in the countries they rule...
This alone explains the absolute failure of capitalism as a form of civilizational philosophy!

* The term Smithian mean they follows the economic views of Adam Smith who wrote the classic "An Inquiry into the Nature and Causes of the Wealth of Nations" in 1776.

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