georgephillip
Senator
Imagine a proud young graduate of one of our leading business schools being asked to help clear the table after her family's Christmas meal. "Sure," she beams, "that will be four dollars, please."
Any capitalists who support the young graduate's behavior care to justify this example of market failure?
Plato and Aristotle believed markets polarized "...the rich versus middle and poor, breeding envy and thereby undermining the social cohesion that sustains community."
Not to mention Family:
"Markets work to bid up the prices of scarce goods and services. Then only those with enough money can afford them. Polarizing gentrification and unequal public schools result from scarce land in preferred neighborhoods going to the wealthiest. Markets distribute much of the best output to the richest. Is that distribution consistent with community or 'family values'"?
http://www.truth-out.org/opinion/item/34127-debunking-the-magnitude-of-markets-a-holiday-story
Any capitalists who support the young graduate's behavior care to justify this example of market failure?
Plato and Aristotle believed markets polarized "...the rich versus middle and poor, breeding envy and thereby undermining the social cohesion that sustains community."
Not to mention Family:
"Markets work to bid up the prices of scarce goods and services. Then only those with enough money can afford them. Polarizing gentrification and unequal public schools result from scarce land in preferred neighborhoods going to the wealthiest. Markets distribute much of the best output to the richest. Is that distribution consistent with community or 'family values'"?
http://www.truth-out.org/opinion/item/34127-debunking-the-magnitude-of-markets-a-holiday-story