Harvard Revolt Against the "Free Market"

[hue]

http://www.workinglife.org/blogs/view_post.php?content_id=15334
Ah, it's Monday, and I'm walking the tip-to-tip--from upper Manhattan all the way to Wall Street--support march for #OWS. So, I feel optimistic--and here's another little tidbit of news: the youthful economists-of-the-future are giving a big thumbs down to the teachings of the so-called "free market". They staged a walkout last week--which only got modest attention so I thought I'd give it a little more air.

I have been arguing for a long time that very little has changed in the system--and nothing can underscore that problem than the continued chatter about the "free market", cutting taxes for business and passing even more foolish so-called "free trade" deals...Which brings me to this event at Harvard:
read more: http://www.workinglife.org/blogs/view_post.php?content_id=15334

[patrice]

1. There is nothing intrinsic about unregulated "free" enterprise that insures that it actually be free

,nor that it maintain and enhance anyone's freedom.

Intrinsic and inherently selective systemic processes become DEPENDENT upon oppressing & destroying many purposefully-excluded forms of value, i.e. capital, which "Free" Enterprise proponents assume: are value-less; or are assumed to be un-acceptable anti-plutocratic competition; or it is assumed that "market forces" will inevitably AND appropriately develop ALL latent value(s), whenever the 1% decide to do so, and that those developments will occur before significant potential values are absolutely lost, especially those values lost as a highly probable high-rate of unknown-unknowns excluded by hegemonic powers, which losses potentially represent even MORE-SIGNIFICANT additional values lost to the gestalt, especially for example, particular kinds of lost personal labor-capital, LOST WORK, i.e. LOST REAL VALUE, the economic foundation of all systems.

This shows that "free" market assumptions are not necessarily valid economic logic, but profits-before-people media propaganda supports their high priority cultural status as though they are logical necessities, logical necessities derived from absolute (*AND* *absolutely* *PRIVATE*) economic dogma, concerning the sole source of which it IS a logically necessary deduction to say, can ONLY be de facto ROYALTY.

[hue]

2. that's why "Free market" is in quotes...

[patrice]

3. Yep. I have just been working on learning how to tell people in my own words.

:hi:

[bvar22]

4. Sorry, Virginia,

...but there is NO Giant "Invisible Hand".
That was a LIE made up by Rich, Greedy Men so that they could ignore Human Rights, Organized LABOR, and Environmental Regulations,
and INCREASE their Profits.

They used Smooth Talking politicians to fool gullible Americans into believing that this Invisible Hand would protect them,
so they didn't need ANY Government Regulation anymore!
"Trust Us. You don't need any Government Regulation!
The Giant Invisible Hand will Protect You!"

They demanded and received Dogmatic, Absolute Subservience to an invisible, all-powerful Deity
without a shred of evidence that this newly discovered Deity existed at all.
In fact, ALL of the evidence contradicts the existence of this Invisible Hand!

I KNOW, Virginia.
I can't believe anybody ever bought that shit either,
but they did,
and many Americans STILL believe in this New Religious Cult of the Free Market,
and still worship at the Most Holy Church of the Giant Invisible Hand.
It is much to painful for them to face the REALITY that their revered Leaders have lied to them,
and are STILL lying to them.

Their Scam has worked perfectly.



You will know them by their WORKS,
not by their excuses.
Solidarity99!
--------------------------------------------------------------------------------------------------------------------------------

[Dont call me Shirley]

5. The Invisible Hand is the god they worship.

[saras]

6. A "free market" is like freedom of religion

In both cases they require a protective institution, probably a government, that is stronger than any of the players in the market, in order to enforce the rules.

[txlibdem]

7. Hooray for those brave students!

But this article -exposing the inadequate education of Harvard students- only solidifies my own personal experience with Harvard graduates: they cannot function in the real world with nothing but fantasy and BS crammed into their cranium.

Harvard had better rethink it's position on the "free market invisible hand" philosophy and the fraudster Adam Smith. His idiocy has crashed the world economy more than once... how many times does it take before you realize that his theories just don't work in the real world???