The study of economy is called Economics which is subjective and impermanent. Therefore the notion that economy is natural, unchanging and objective is wrong.
The economy embodies conflicting interests between different groups and economy closely reflects those conflicting interests. No school of economics can claim to be neutral or objective. Different approaches to economics rise and fall, depending on the course of economic (and political) debates and conflicts.
Every approaches of economics analyses of how the economy works with a set of values and assumptions vis- a- vis how it should work and in whose interests.
Financial institutions can play a useful role in facilitating investment and production by companies in the real economy. But this function may be overwhelmed by poinless, westful or downright destructive financial activity. Speculators seek to profit from the purchase and resale of paper assets rather than from the production of useful goods and services.
Government is not the enemy of free market capitalism. In fact without Govt, capitalism would not exist at all. Government’s actions and programs have tended to reinforce and stabilize the basic relationship of capitalism.
The economy embodies conflicting interests between different groups and economy closely reflects those conflicting interests. No school of economics can claim to be neutral or objective. Different approaches to economics rise and fall, depending on the course of economic (and political) debates and conflicts.
Every approaches of economics analyses of how the economy works with a set of values and assumptions vis- a- vis how it should work and in whose interests.
Financial institutions can play a useful role in facilitating investment and production by companies in the real economy. But this function may be overwhelmed by poinless, westful or downright destructive financial activity. Speculators seek to profit from the purchase and resale of paper assets rather than from the production of useful goods and services.
Government is not the enemy of free market capitalism. In fact without Govt, capitalism would not exist at all. Government’s actions and programs have tended to reinforce and stabilize the basic relationship of capitalism.
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