Neal Lawson and John Harris call for a new type of politics. As part of their analysis:

The dysfunctional consequences of uncontrolled markets have allowed government to grow ever more intrusive and controlling.

Eh? Less government means more government?

The purpose of free markets is to maximise profits.

What? Erm, it\’s rather an assumption of perfect competition that there will be no profits at all. Even ignoring that the purpose of free markets is to allow the consumer to choose as the consumer wishes. To maximise consumer profit as it were, not producers\’ profits.

unchecked markets and monopoly capitalism

Hmm…unchecked markets lead to monopoly do they? I thought that little bit of Marxism had been empirically disproved by now (except in the limiting case of ever increasing returns to scale that is).

We can allow markets to flourish, but know we are better served by more plural and diverse means of production – such as social enterprise, voluntary organisations, mutuals and co-operatives.

Like, err, having unchecked markets in methods of organisation and ownership you mean?

The sad thing is they actually believe all this nonsense.

4 thoughts on “Eh?”

  1. I didn’t know markets had anything against social enterprise, voluntary organisations or co-operatives…

    (if the can produce something that people want to buy at a price at which people want to buy it that is)

  2. Markets do not have a “purpose” in some sort of teleogical sense, anyway. Markets are simply states of affairs that exist when A wants to sell or buy from B, and vice versa, and when the actors involved have stuff that the others want. Making a profit is simply reflective of the fact that parties to a transaction want to be better off from transacting.

    This is kindergarten stuff. Obviously too frickin’ complicated for some.


  3. Oh Tim! Wicked Tim!

    You are employing nasty Facts and howwid Reason!

    Can’t you tell it’s FEEWINGS we are talking about here?

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