Here is a quick and concise comment I received in response to https://economics501.wordpress.com/2011/04/22/21st-century-karl-marx/ regarding the complexity of our economy. Note the phrase that there is ” a strong tendency to want to try to control something that appears to be out of control and chaotic”. I totally agree with the commenter below that free markets are much more effective than government control.
So the more free our economic markets are the stronger our economy will be. Empirical data supports us (US between 1776 – 2007 vs failed European social democracies and the more obvious economic failures of the USSR, Maoist China, North Korea, Cuba).
I am half way through with Mark Levin’s ‘Ameritopia’. Much of the book provides historical background for a tendency to ‘control’ the economy, with reasons why this has never worked and never will. I’ll provide a book review in week or two.
The comment I received:
Free markets are self-correcting and perhaps that is why they work so well even though they are so complex. There is a strong tendency to want to try to control something that appears to be out of control and chaotic, but I submit to you that a chaotic structure like an economy, which is run under a free market system, will indeed solve all the problems if it is just left alone.
“Rules For Radicals” by Saul Alinsky
“Ameritopia” by Mark Levin