Wednesday, February 5, 2014

25 pictures of Markets Regulating Themselves and the lives lost.

When economists talk about how a market "regulates itself," what they mean is that markets reach an equilibrium between supply and demand.
This says nothing about whether or not this equilibrium will be a good thing for society. It simply states that if consumers choose what to buy and producers choose what to sell and how to produce it, the market settles on a product distribution and prices.
Lately, many people I know have argued that "free markets" mean something more. They see markets as ethically right or ethically moral, meaning pursuit of profit always somehow leads to a greater good.

http://www.dailykos.com/story/2014/02/03/1271430/-25-Images-of-Markets-Regulating-Themselves?detail=email

No comments: