> Since Adam Smith postulated the "invisible hand" of the market it
> has had a godlike status. It's something in which we are supposed to
> trust to deliver benefits for everyone. This is the central fallacy
> of market capitalism.
The central problem is the role of government.
Government economists seem to believe that the government has some
God-like role to oversee the economy and keep out of the way.
What they fail to realize is that the government is simply a market
force created by the people. Its primary function is to intervene on
behalf of the individuals who elect it. The Government represents
individuals, not corporations.
The approach of the Government standing back and letting the rest of
the market look after itself is not good economics, its a market
failure of the first order!
Just my $0.02
Gordon
-- gordon_kei@antdiv.gov.au --- gordonkeith@acslink.net.au
Gordon Keith ,-_|\ Ph: +61 3 6232 3489
Programmer / \ Fax: +61 3 6232 3351
Marine Science Section \_,-._/
Australian Antarctic Division *
http://www.antdiv.gov.au http://acslink.net.au/~gordonkeith
(Standard disclaimer applies)
But God has shown us how much he loves us -
it was while we were still sinners that Christ died for us!
Romans 5:8