Going Forward to a Market Economy

A. Coskun Samli

Chapter Chapter 11 in From a Market Economy to a Finance Economy, 2013, pp 139-151 from Palgrave Macmillan

Abstract: Abstract Just what now? The finance economy, although extremely profitable to some in the short run, is self-destructive and is even gaining momentum temporarily. This situation is not sustainable. It may be maintained that this is a general indicator for the American society. Unfortunately, very little happens in our society until an issue becomes a very critical problem. But, in this case, we simply cannot afford to wait to the point where there may be no other alternatives. Although the general problem of an emerging and growing finance economy has been in the making for about four decades it still is not hopeless. But it is necessary to counteract this very dangerous movement before it totally destroys our society. Just how can this be accomplished? The first and foremost activity is to create a powerful government that is fair and would level the playing field for all Americans and not just for the 1 percenters. Indeed, the financial leaders object to having a big government so that they can do more of what they are doing without interruption from regulations and conditions. It must be understood that the government must be big and powerful to counteract the financiers’ outrageous demands such as billionaires needing a major tax cut. Having a powerful federal government, through propaganda, has become an un-American concept with which many in our society are threatened as socialism or fascism will take over. Thus it is not likely to become a reality. The controlling 1 percenters could be made an un-American concept, which is also not likely to happen. What can happen is that both of the political parties can get together and work for the society.

Keywords: Market Economy; Fair Trade; Finance Economy; Radical Innovation; Financial Sustainability (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-32298-2_12

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DOI: 10.1057/9781137322982_12

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