Quote:
Originally Posted by Strangelet
I have problems with presumptions that
1) the free market is inherently and exploitative system
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Actually, the problem is that its shortcomings are
NOT inherent. You and I could participate in a closed capitalistic economy, operate in a completely ethical manner and still make independent decisions that are detrimental to the economy. Or we could make other decisions, still ethical, that are good for our economy. There is no causal relationship between our decisions, our economy and the utlimate outcome.
Quote:
Originally Posted by Strangelet
2) the free market == laissez-faire capitalism. The free market is meant to be the freedom of minds to develop whatever system they choose from the grass roots level.
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Actually, free-market means that I am free to sell my/buy you property for what ever price I can get. Nothing more nothing less.
Quote:
Originally Posted by Strangelet
3) capitalism, not colonialism or mercantilism (strong government/business partnership. See east india company)
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No, capitalism + avarice
Laissez-faire capitalism
can but not always lead to a suboptimal use of resources. But this does not mean capitalism is inherently bad.
Again I refer you to the work of Nash, Selten, Harsanyi