“An economy without a shared morality is destined to fail (in relative terms, of course).”
(you know, applying the whole “moral relativism” thing… yeah, you get it…)
The classical definition of an “economy” refers to:
- The management of scarce & finite resources.
- The production, distribution and consumption of goods and services within a community.
- A system designed to meet the needs and wants of its people.
So, with that said…
Who gets to define “need”? Who gets to define “want”?
- Ask not (yet) what your economy can do for you.
- Ask not (yet) what you can do for your economy.
- Ask first: What purpose does your economic system serve in the first place?
- Ask then: How closely aligned are the views & values of popular economists to your own, as they relate to the previous question?
- Then come back and read the rest of our blog.
- Then figure out whether your economy is succeeding or failing (in relative terms, of course).