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You are of course correct, I should not have written economic theories when I really mean real-world economics. And I of course neither doubt that self-interest
by danbruc 12y ago
You are of course correct, I should not have written economic theories when I really mean real-world economics. And I of course neither doubt that self-interests can be aligned with the interests of society nor that people realize that self-interests are not necessarily aligned with the interests of society.
But when you look at the real world rational actors is often not much more than an euphemism for greedy actors. Exceptions not withstanding. While real-world capitalism without doubt enabled an enormous gain of total wealth that is hard to imagine in more fair - or whatever you want to call it - economic systems I see no way that you could argue that it was the best option at least for the last couple of decades or that we should or even could go on in the same way.
- icebraining 12y agoBut the thing is: few people argue for the current system. If you want to find agreement with the statement "this system is deeply flawed", you can almost look anywhere (and certainly at the laissez-faire economists). An example: http://www.amazon.com/The-Great-Deformation-Corruption-Capitalism/dp/1586489127 http://www.amazon.com/The-Great-Deformation-Corruption-Capit... What you won't find is agreement over what exactly is wrong with the current system, what exactly causes those problems, and what to do about setting to solve them.