4 ms·
"better" is subjective term. And, I'm not sure the very common line "market forces manage the economy better than planners" is actually universally true. I thi
by jqm 12y ago
"better" is subjective term.
And, I'm not sure the very common line "market forces manage the economy better than planners" is actually universally true. I think without governmental controls and regulation we might have severe economic events starving a third of the world to death every 20 years or so. So, there is a balance, even for market economies.
In addition, lets look at your final statements... Technology replaces the need for human labor. What if technology did the planning? Some really good algorithms refined over time by really smart people. Do you still think simple human greed would produce better outcomes for humanity? I don't.
And one more point... a debt based economy where money is expanded might be the actual reason for the success of "capitalist" countries. Oh, and some conquest. And, the economic punishment of countries not falling in line with "market economy". Maybe "capitalism" itself has less to do with the actual outcome than is often claimed by capitalists.