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← Michael, we hardly knew ye

KJinAsia's Avatar Jump to comment 27 by KJinAsia

For those of you who equate my endorcement of market based economics with a neglection of the abuses contained within, please get me some credit. We work on reducing those with efficiency, compassion, and long term based regulation and continuously increased transparency.

My point, in response to the original post, is that market economics is a direct outcome of human nature, involving many aspects of our genetically derived moral makeup. When it works, it works extremely well by any possible perspective at the level of population.

The abuses get all the press. Good, but I think it's necessary to remind ourselves that the concept should not be tainted by the abuses, which are rare consequences considering the entire breadth of economic exchange. History has shown very clearly that any concept of wealth distribution that deviates from free market exchange results in far worse abuse.

You can wrap capitalism around whatever grouping of evil you want, but capitalism is just concentration of wealth, which is an inevitable outcome and a necessary condition for growth.

Tue, 31 Aug 2010 13:17:12 UTC | #508531