Monday, December 19, 2011

Quotation for Today

The enclosed quotation is part of an article that gives us a clear look at free-market economics and its accompanying ideology, and who benefits from free-market ideology and not truly free markets.

Because scale economies [like in the United States] intrinsically imply a small  number of large producers and thus give rise to oligopoly, with the consequences mentioned earlier.
This is why most other industrialized nations aren’t romantics about free markets, are honest about their frequent nonexistence, and focus their policies on taming the negative effects of oligopoly while capturing the positive ones. They understand, for one thing, that big corporations are necessary but often pirates, and focus on making them share their loot with their crews.
We [the United States], on the other hand, live in a state of denial about the piracy. 
Ian Fletcher
Ian Fletcher is Senior Economist with the Coalition for a Prosperous America.  

Fletcher, Ian. " Why Free-Market Economics is a Fraud." Real-World Economics Review Blog 18 December, 2011; online edition.

Related link:

No comments:

Post a Comment