Bread for the poor or circuses for the rich?
Justin asks: Global Food Crisis: The Limits of Free Market Thinking? The current tide is definitely a wake-up call. But I think Victor Lebow carries more blame than Milton Freedman or Adam Smith (if you haven’t yet, go see the story of stuff. It gives a lot to think about in this context).
The problem is not with the invisible hand, its with the strong hand, which promotes over-consumption of non-sustainable goods, subsidizes meat production (which feeds much less people per hectare) and prioritizes bio-fuelled humvees over wind-farm powered powered public transport. The problem is not with the economic system (there’s frankly very little difference between one and the other nowadays). The problem is with base values.
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