Free Market System Is a Myth
November 1, 2008 8:45 pm Raphael O'SunaAmerica has become schizophrenic.
Hard line capitalists have nationalized the financial structure of our economy, while denying the utility of government intervention.
America, by way of subsidies, loans, bailouts and buy-ins, has socialized the banking, brokerage, automotive, agricultural, transportation and defense industries.
The US Government controls medicare, social security, the military, the space program, social welfare programs and the VA.
It provides its own oversight. It has regulatory power over aspects of the environment, and over insurance companies and the security markets.
It holds elections.
It regulates and sells broadcast spectrums and regulates and buys pharmaceuticals.
One could fill pages with the names and functions of governmental agencies. The notion of a free market system is a joke or a myth. The “invisible hand” of market theorists, which is supposed to make markets work fairly and efficiently is another myth.
There should always be a “visible hand”–that of the people–which directly determines our social and economic lives. In fact, Christianity made visible is socialism.
Whenever markets lack proper regulation, they run amok: to excess and criminality. If there is to be an invisible hand, it should be guided by the conscience of the community.
– Raphael O’Suna, Haiku



