You are currently browsing the daily archive for April 4, 2011.

As I am often told by my free market indoctrinated friends the market will solve societies problems, if….(insert the big whingy diatribe about government interfering here) it was just left to its own devices.

A sample of the pap I usually hear, coherently summarized by Mr.Chang and his book I happen to be reading right now.

“We should leave markets alone, because, essentially, market participants know what they are doing – that is, they are rational.  Since individuals (and firms as collections of individuals who share the same interests) have their own best interests in mind and since they know their circumstances best, attempts by outsiders, especially the governement, to restrict freedom of their actions can only produce inferior results.  It is presumptuous of any government to prevent market agents from doing things they find profitable or force them to to do things they do not want to do, when it possesses inferior information.

What they don’t tell you…

People do not necessarily know what they are doing, because our ability to comprehend even matters that concern us directly is limited – or, in the jargon, we have “bounded rationality”.  The world is very complex and our ability to deal with it is severely limited.  Therefore, we need to, and usually do, deliberately restrict our freedom of choice in order to reduce the complexity of the problems we face.  Often, government regulation works, especially in complex areas like the modern financial market, not becaues the government has superior knowledge but because it restricts choices and thus the complexity of the problems at hand, thereby reducing the possibility that things may go wrong.”


-Excerpt from 23 Things they don’t tell you about Capitalism – Ha – Joon Chang.  pp. 168-169

People always seem to forget that the rational self maximizing actors they talk about in economics text books are merely theoretical constructions and do not figure prominently in the real world.  We are neither rational nor do we have complete information when it comes to making economic decisions.   Therefore, as Mr. Chang implies government regulation can be a good, even helpful thing, when it comes to market conditions.


Mathematics and music are inseparable.

This Blog best viewed with Ad-Block and Firefox!

What is ad block? It is an application that, at your discretion blocks out advertising so you can browse the internet for content as opposed to ads. If you do not have it, get it here so you can enjoy my blog without the insidious advertising.

Like Privacy?

Change your Browser to Duck Duck Go.

Enter your email address to follow this blog and receive notifications of new posts by email.

Join 1,320 other followers

Progressive Bloggers



Blogs I Follow

The DWR Community

A. Lien



A topnotch site

I Won't Take It

Life After an Emotionally Abusive Relationship

Exploring best practice and research in sexual violence. A loud voice in the fight against victim blaming. Written and Managed by Jessica Eaton, Doctoral Researcher in Forensic Psychology

Unpolished XX

No product, no face paint. I am enough.

Volunteer petunia

Observations and analysis on survival, love and struggle


the feminist exhibition space at the university of alberta

Raising Orlando

About gender, identity, parenting and containing multitudes

REAL for women

Reflecting Equality in Australian Legislation for women

The Feminist Kitanu

Spreading the dangerous disease of radical feminism

Double Plus Good

The Evolution Will Not BeTelevised

la scapigliata

writer, doctor, wearer of many hats

Teach The Change

Teaching Artist/ Progressive Educator

Female Personhood

Identifying as female since the dawn of time.

Radfem Resources | Radical Feminist Literature

A virtual library for those interested in radical feminist literature and resources.

Not The News in Briefs

A blog by Helen Saxby


A blog in support of Helen Steel

Blasting through Left-wing BS with truth bombs


Memoirs of a Butch Lesbian


Radical Feminism Discourse

a sledge and crowbar

deconstructing identity and culture

The Radical Pen

Fighting For Female Liberation from Patriarchy


Politics, things that make you think, and recreational breaks

Easilyriled's Blog

cranky. joyful. radical. funny. feminist.

Nordic Model Now!

Movement for the Abolition of Prostitution

The WordPress C(h)ronicle

These are the best links shared by people working with WordPress


Gender is the Problem, Not the Solution


Peak Trans and other feminist topics

There Are So Many Things Wrong With This

if you don't like the news, make some of your own

Gentle Curiosity

Musing over important things. More questions than answers.


short commentaries, pretty pictures and strong opinions

Revive the Second Wave

gender-critical sex-negative intersectional radical feminism

Trans Animal Farm

The Trans Trend is Orwellian

Princess Henry of Wales

Priestess Belisama

miss guts.

just a girl on a journey

writing by renee

Trigger warning: feminism, women's rights

%d bloggers like this: