Democracy and markets are both fundamental building blocks for a decent society. But they clash at a fundamental level. We need to balance them.
Let the rabbit of free enterprise out of its velveteen bag and too many people would have to be fired, too much idiocy exposed to the light of judgment or ridicule, too much vanity sacrificed to the fires of efficiency. Such a catastrophe obviously would threaten the American way of life, to say nothing of the belief in free markets.lewis h. lapham
The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity – the political allocation of wealth and opportunity – is not merely susceptible to corruption, it is corruption.”George Will
The enemy aggressor is always pursuing a course of larceny, murder, rapine and barbarism. We are always moving forward with high mission, a destiny imposed by the Deity to regenerate our victims while incidentally capturing their markets, to civilise savage and senile and paranoid peoples while blundering accidentally into their oil wells.
Capital markets reward you for what you learn that other people have yet to ascertain.kenneth griffin
The virtue of female slaves is wholly at the mercy of irresponsible tyrants, and women are bought and sold in our slave markets, to gratify the brutal lust of those who bear the name of Christians.sarah grimké
Even in financial markets, the concept of market efficiency does not hold.paul ormerod
The question is: why are there markets of food at all?raj patel
Other job markets may lay claim to the title, but astronomy is actually the world's oldest profession.phil plait
Reconquer the streets, the markets - the public spaces, with the same message of opposition: We are devastated, but we will not give up. With torches and roses, we deliver this message to the world: We do not let fear break us. And we do not let the fear of fear silence us.jens stoltenberg
I started out by viewing the marketplace as a cruel place, where you need intervention by government and lawyers to protect people. But after watching the regulators work, I have come to believe that markets are magical and the best protectors of the consumer. It is my job to explain the beauties of the free market.john stossel
In the debate between those who believe in essentially unregulated markets and others who hold that reasonable regulation diminishes market excesses without inhibiting their basic function, the subprime situation unfortunately provides ammunition for the latter view.barney frank
While the Marxist faith in central planning is now confined to a few dingy sects, a quasi-religious belief in free markets continues to shape the policies of governments. Many writers have pointed to the havoc and ruin that have accompanied the imposition of free markets across the world. Whether in Africa, Asia, Latin America or post-communist Europe, policies of wholesale privatisation and structural adjustment have led to declining economic activity and social dislocation on a massive scale.john n. gray
The populist rant about greedy banks that is being loudly ventilated in Congress is a distraction from the true causes of the crisis. The dire condition of America's financial markets is the result of American banks operating in a free-for-all environment that these same American legislators created. It is America's political class that, by embracing the dangerously simplistic ideology of deregulation, has responsibility for the present mess.john n. gray
Not in the name of a necessary protection of the white race did the European break into China, but for the benefit of the Jewish-mercantile greed for profit. He thus dishonored himself, destroying a whole civilization, provoking justified indignation. China fights for its myth, for its race, and its ideals, as does the renewal-movement in Germany against the mercantile race that rules all stock markets and the actions of most governments.alfred rosenberg
The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown.nouriel roubini
Technological advance often thrives in sheltered and subsidized markets, which defy free trade.
Manufacturers are realizing that good industrial design is an important ingredient in their products' success and a vital factor in industrial competitiveness in both domestic and international markets.
Trusting souls who accept economic assurances that markets are efficient are unlikely to fare any better this time when the Bull gives way to the Bear.
Having created the conditions that make markets possible, democracy must do all the things that markets undo or cannot do.
markets are interested in profits and profits only; service, quality, and general affluence are different functions altogether. The universal, democratic prosperity that Americans now look back to with such nostalgia was achieved only by a colossal reigning in of markets, by the gargantuan effort of mass, popular organizations like labor unions and of the people themselves, working through a series of democratically elected governments not daunted by the myths of the market.
The city of Temixtitan [Tenochtitlán] is itself is as big as Seville or Córdoba.… This city has many squares where trading is done and markets are held continuously.… There are, in all districts of this great city, many temples or houses for their idols.… Among these temples there is one, the principal one, whose great size and magnificence no human tongue could describe, for it is so large that within the precincts … a town of some five hundred inhabitants could easily be built.
International specialization and division of labor requires institutions and organizations to safeguard property rights across international boundaries so that capital markets as well as other kinds of exchange can take place with credible commitment on the part of the players.
markets can be efficient or inefficient; so can governments. thus market failure is a counterpoint to government failure.
The second part of the New Right's policy package has been the belief that free-market solutions are always best. It is this latter view which is profoundly mistaken. markets and profits are crucial, but the pure free-market model itself is deeply flawed.
markets are social organizations, structured and regulated by more or less well-defined social rule systems.