ThoughtBite: What's so wrong with the economy?

This has been a splinter in my mind for years. . . why the hell does our economic system seek to defy the Laws of Conservation of Energy and Mass? Everything is the exact same physically--in fact, the *only* thing that's changed is some zeros and ones on some computers--yet most people have a lower standard of living now than they did 4 years ago. Why is that?

I've been told ad nauseum by Free Market Fundamentalists that I just don't get the basic nature of Free Market economics, which is that it's a system for most efficiently distributing scarcity. Well, judging by the rapidly widening gap between the rich and the rest of us over the last few years, the vaunted Free Market system may be efficient, but I'm not sure that's what we want, since it seems to be very efficiently distributing scarcity away from the top 5% and to the other 95%.

Check out more uncomfortable thinking at www.gregcraven.org.

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[frgtmygld]

When you find your theories do not reflect the reality CHECK YOUR ASSUMPTIONS. We do not live under free market capitalism, so blaming our current problems on it is a non starter. We are enjoying an evil brew of crony capitalism mixed with fascism and socialism.

You studied science before teaching it. Are you really seeking to learn something here, or are you trying to influence opinion?

[Stoneforter]

Unsustainable living...With the population exploding....We cant sustain this way of life,...Mass production of animals and crops must end,alot of people are sick from it...,,its not working!!.It takes 30 ears of corn now to equal the nutritional value of 15 ears a few years ago.. Thanks Monsanto!!..Most everything you buy ends up in a landfill in a short time..(lets go to wal mart!!)....most people are stupid...and they love it!!

[artsysimone]

I've never understood the concept of 'economy.' I mean, humans created the concept of money...and stock markets...and commodities...and debt...and consumerism. Why are so many a slave to something of our own creation? Currency, economy, etc. are all ideas, created by human beings - why are we ruled by it? It has always boggled my mind how the intangible affects the tangible world. It makes no sense on a philosophical level, and yet our human-created 'economy' is very real.

[cruciferousvegetable]

Because of automated foreclosure procedures and receiverships that summarily liquidate and disband companies that employ and create. We have wasteful legal and risk averse protections that just kick in and are blind to residual value.

It is disgusting, but it is time for the next generation to swoop in and gobble up these cheap assets and take over the wheel. Unfortunately they didn't get the preparation because their education funding was cut, and they were raised on nintendo and twinkies.

[adriancrane99]

The incorrect assumption that i think you make is that the people at the helm love us. They don´t. In fact, if you study globalism and eugenics and the illuminati carefully, you will find that those in control know exactly what they are doing and why.

[TAMPADOC64]

@gameyguru The problem with one world govt at this juncture is this: most of the world is ruled by corrupt govts, far more corrupt the our own. Look at the UN; the human rights counsel is run by people that think women should be stoned to death if they get raped. Officials that are going into third world nations to molest children, and supporting the fake AGW movement to redistribute wealth from successful countries to their own pockets.

I think the rest of the world needs to grow up first.

[gameyguru]

i agree with some points you are making. Competition will always exist, and the same with people cheating the system. Its an innate quality we have to pretty much screw eachother over (doesn't mean it can't change). Cause really, why is it allright for the little guys to cheat their way but the big guys can't? Its not really. But if a government inevitably becomes corrupt when to 'big' , too powerful, wouldn't that concept apply to big business? what about a one world government?

[TAMPADOC64]

@gameyguru I'll say it again, anytime government becomes too powerful, it becomes corrupt. Our government has gotten too big, too powerful and too out of control. There is nothing wrong with competition, there will always be those who cheat the system. All of it pales in comparison to the corruption that government contributes to. The housing crisis, oil crisis, banking crisis, economic crisis were ALL caused by government interference. If govt. didn't meddle, none of it ever would have happened

[gameyguru]

@TAMPADOC64 well its highly beneficial to have a government. Which is supposed to be a body of people, acting out in a responsible effedctive manner for the people. Government isn't the problem. you've said it twice now. Corruption is the problem!! And corruption exists beyond government. It exists in everyday business and people, in constant competion to grind against eachother and get as much as they can. It is just more appparentnt and easier to point a finger at government

[TAMPADOC64]

@gameyguru Funny how that works, government imposes harsh regulations, and then suddenly the companies are in cahoots with the government. I don't know how much simpler I can say this, the more power government has, the more corrupt it becomes. Capitalism isn't the problem, government is the problem.

[TAMPADOC64]

@gameyguru What you've identified is exactly what occurs in Socialist countries as well as Communist countries. Socialism and Communism can't survive without Capitalist in some form. The problem isn't capitalism: the problem is that any government that is too powerful becomes corrupt. China has been allowing Capitalism for quite a few years now; maybe you should get up to date on current events! Chinese people can open businesses, hire employees and sell products.

Know what that is called?