What has always troubled me most about free-market capitalism is that it lacks critical thinking and empathy, as well as a long-term social perspective. The baseline assumption that a simple compilation of all the individual short-term transactions that generate cash profits for someone will be the most intelligent way to determine how to distribute resources, and how best to use them, has fallen far short of what was promised. As is often the case when we implement an abstract concept as a real-life experiment, unexpected consequences arise. So too arise belated realizations that what we conceptualized did not take into account many, many issues that needed to be considered. We only discover after the fact how much the systems mechanics did not account for, because so many variables were not considered before the model was implemented. Adaptation, not dogma, thus seems key. To cling to a model out of ideology rather than the pragmatic study of whats unfolding seems pointless and problematic. To notice whats not working and delve deeply into the why brings us closer to useful solutions.
Posted on: Wed, 20 Aug 2014 14:05:16 +0000
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