Everte Farnell Leading Institutionalist Economist, Marc Tool, states that competitive market economies are inefficient because they provide no way for wants and preferences to be appraised. Leaving it instead to media advertising to *create demand artificially, and that markets fail to address the problems of gross income inequality. As a result, many people have their choices in life constrained “to the point where intellect, creativity, compassion, and commitment are stunted or destroyed for those denied. We then live in a layered or tiered community suffering from elitism and privation alike. This would appear to be inefficiency of really monumental proportions.”
Posted on: Sat, 28 Jun 2014 21:12:52 +0000
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