Tuesday, April 9, 2013

Company profits depend on the 'welfare payments' they get from society [Article]

Ha-Joon Chang, writing in the Guardian, demonstrates that the free market is a myth.  Company profits depend on the 'welfare payments' they get from society.
It is time that we dispensed with the myth that the market is a force of nature that should not be meddled with. Markets are social creations that can be, and have been, modified for social purposes