Welcome to Buster's Blog

Irregular commentary on whatever's on my mind -- politics, sports, current events, and life in general. After twenty years of writing business and community newsletters, fifteen years of fantasy baseball newsletters, and two years of email "columns", this is, I suppose, the inevitable result: the awful conceit that someone might actually care to read what I have to say. Posts may be added often, rarely, or never again. As always, my mood and motivation are unpredictable.

Buster Gammons

Thursday, January 26, 2012

The Tarnished Idea of "Leave It To The Markets" Capitalism

(Excerpted in Time Magazine from Power Inc.: The Epic Rivalry Between Big Business and Government, and the Reckoning That Lies Ahead, by David Rothkopf.)

"We have also lost sight of the philosophical ideas that historically gave national governments their authority. The current argument that larger government impinges on rather than protects or advances individual liberties is a far cry from the ideas that fueled England's Glorious Revolution and the American Revolution. It ignores the fact that the void created by smaller government is often not filled by liberty. When matters like the global environment or regulation of derivatives trading are left entirely to market forces, for instance, outcomes tend to serve the most powerful, because markets neither have a conscience nor do they ensure opportunity. Rather, they seek efficiency, and efficiency loves scale, and enterprises that grow to scale become elephants stamping out opportunities around them."

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