The Wealth of Nature
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John Michael Greer. The Wealth of Nature
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The Wealth of Nature
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These effects can be understood by recognizing that a market is a commons, along the lines sketched out by the Garrett –Hardin essay mentioned above. Like any other commons, it can break down when it is not managed in ways that keep the common interest of all participants from being harmed by the actions of individuals. This does not mean that markets ought to be abolished, any more than Hardin’s arguments show that commons ought to be abolished; the idea that markets ought to be replaced by government bureaucracies was tested thoroughly in the Marxist states of the twentieth century and turned out to be a comprehensive flop. What it means, as I propose to show later on in this book, is that the same logic of checks and balances that has proven to work tolerably well in the political sphere needs to be applied to the economic sphere, particularly to those dimensions of economics that overlap with non-economic realities.
Energy’s Rules
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