Published In

Real-World Economics Review

Document Type

Article

Publication Date

1-1-2009

Subjects

United States -- Economic policy -- Environmental aspects, Conservation of natural resources, Sustainable development

Abstract

The current financial meltdown is the result of under-regulated markets built on an ideology of free market capitalism and unlimited economic growth. The fundamental problem is that the underlying assumptions of this ideology are not consistent with what we now know about the real state of the world. The financial world is, in essence, a set of markers for goods, services, and risks in the real world and when those markers are allowed to deviate too far from reality, ?adjustments? must ultimately follow and crisis and panic can ensue. To solve this and future financial crisis requires that we reconnect the markers with reality. What are our real assets and how valuable are they? To do this requires both a new vision of what the economy is and what it is for, proper and comprehensive accounting of real assets, and new institutions that use the market in its proper role of servant rather than master.

Description

This is the publisher's final PDF

Persistent Identifier

http://archives.pdx.edu/ds/psu/8945

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