limitations_of_the_market_system
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====== Limitations of the market system ====== | ====== Limitations of the market system ====== | ||
- | Our current market system in underpinned by a system of trade. | ||
- | The use of [[explicit_vs_implicit_trade|trade]] | + | Our current economic system is based on a system |
- | Though useful, it has many drawbacks, and, in today' | + | The use of trade - and its logical extension money - appears on the face of it to be a useful concept: Two parties engage in a trade, both get something they want, and both are better off than before. This has been the dominant mode of social organisation for at least the last 10,000 years. The effect of the transfer of wealth over time has been described [[: |
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+ | Though useful, it has many drawbacks, and in today' | ||
===== Poverty ===== | ===== Poverty ===== | ||
- | Just under half the human population (3bn) in the world today [[http:// | ||
- | If almost 50% of the planet' | + | Just under half the human population (3bn) in the world today [[http:// |
+ | |||
+ | If almost 50% of the planet' | ||
===== Debt ===== | ===== Debt ===== | ||
- | Even in the parts of the world where trade appears to create prosperity, it is backed almost entirely by debt. Since we know most money is [[https:// | ||
- | If we consider trade as being the best way to operate our society, then the question needs to be asked: why would we have debt? If a trading society and its members thrive on the continual movement of goods and services only, then it follows that debt should be unnecessary. Debt can also be interpreted as an ' | + | Even in the parts of the world where trade appears to create prosperity, it is backed almost entirely by debt. Since we know most money is [[https:// |
+ | |||
+ | If we consider trade as being the best way to operate our society, then the question needs to be asked: why would we have debt? If a trading society and its members thrive on the continual movement of goods and services only, then it follows that debt should be unnecessary. Debt can logically | ||
===== Environmental damage ===== | ===== Environmental damage ===== | ||
- | Since profit and the creation of wealth is the primary driver of economies and behaviour, it follows that other ' | + | |
+ | Since profit and the creation of wealth is the primary driver of economies and behaviour, it follows that other ' | ||
This inevitably leads to widespread destruction of natural habitat, reckless methods of resource extraction, pollution and biodiversity loss. Where our economic drivers continually demand wealth creation, less care is given to things that do not create wealth. This must be considered as the main reason for our crisis in [[https:// | This inevitably leads to widespread destruction of natural habitat, reckless methods of resource extraction, pollution and biodiversity loss. Where our economic drivers continually demand wealth creation, less care is given to things that do not create wealth. This must be considered as the main reason for our crisis in [[https:// | ||
===== Mental health and wellbeing ===== | ===== Mental health and wellbeing ===== | ||
- | Currently around [[https:// | + | |
+ | Currently around [[https:// | ||
+ | |||
+ | Also, though not backed with hard data, it's not unreasonable to assume that the constant pursuit of financial security is a major contributor to stress in the lives of many low to middle-income earning families. | ||
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+ | ===== Wealth vs. Quality of Life ===== | ||
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+ | When looked at in its raw context, there is a clear disparity between the transfer of wealth and the transfer of quality of life. Using a computer simulation, it can be shown that, when tracked separately, the transfer of wealth and the transfer of energy (or life quality) give very different results. | ||
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+ | Find out more about [[: | ||
limitations_of_the_market_system.1551558675.txt.gz · Last modified: 2021/08/04 06:11 (external edit)