Tuesday, July 20, 2010

Comparative Economics Systems Class

Something I have learned:

“To be generically against markets would be almost as odd as being generically against conversations between people. The freedom to exchange words, or goods, or gifts does not need defensive justification in terms of favorable but distant effects: they are part of the way human beings in society live and interact with each other (unless stopped by regulation or fiat)” (A.K. Sen 1999).

This quote I like for a number of reasons. First of all, it uses a metaphor; I love metaphors. Also, it shows that there is not any single economic system that is going to be completely right. Capitalism has its drawbacks and socialism does also. Just as how we all seek something for our own benefit in our conversations, we do so in our economics also. Self-interest is not something that is altogether bad, it is just that we should seek to be about the interests of others as much as possible. Business is worthwhile when it applies to principles that are universally applicable.

Similarly, Shane Claiborne writes: ““When we truly discover love, capitalism will not be possible and Marxism will not be necessary” (Irresistible Revolution).


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