Tag: market economy
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F. S. Michaels on Story and Economics
To the degree she is making the point about distinguishing between a market economy versus a market society, I think she may have something to offer. But I think she has caricatured the economic way of thinking. I sense the creation of a straw man. Also, I find it curious that she uses the monoculture…
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Market economy? Yes! Market society? No!
Cardus: Market economy? Yes! Market society? No! …Here at the Work Research Foundation we believe in markets. We believe markets to be the best way—no, the only sane way—to structure interactions in economic life. We don't only believe this because of the historical evidence from the complete failure and ghastly horror of socialism and fascism,…
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Self-Interest and Benevolence: Partners, not Antonyms (Part 8)
[Link to Part 7] The Dark Side of Benevolence Critics of market economies rightly point out that markets alone will not achieve a perfectly just society. We have investigated why this is so. We do not leave people entirely at the mercy of market forces. Doing so would be an economic version of Darwin’s “survival…
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Self-Interest and Benevolence: Partners, not Antonyms (Part 6)
[Link to Part 5] Co-creators and Partners in Our Own Provision Over the last five posts, I've made the case that economic freedom has generated unprecedented abundance. People acting on what they believe to be in their best interests bid for goods and services, and people acting on their perceived best interest freely choose to…
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Self-Interest and Benevolence: Partners, not Antonyms (Part 4)
[Link to Part 3] Imperfect Markets: Too little freedom or too much? I ended my last post with this observation: “Market economies are creating unprecedented abundance, and that can be celebrated. But tremendous evil and mischief are also done by people having the freedom to act on their perceived self-interest. The dilemma is that economies…