2/25 You know, no one disputes the economic power and efficiency of the
free market. Adam Smith wrote the Wealth of Nations way before
the term monopoly and corporate clout/abuse became common. Just
Google for articles on why free-market doesn't work the way it
did in the 18th-19th century; meritocracy is non-existence in the
absence of competition. I will however buy the Division of Labour
argument, Labour theory of value, price of commodities, etc. In
short I find both the free-market and the centralized-market theory
incomplete, inefficient, and unfit in the complex world we have
today. There needs to be a balance of both, or an alternative economy. |