047 : 23 THINGS THEY DON’T TELL YOU ABOUT CAPITALISM
What if I told you 95% of Economics is Common Sense?!
Free Markets is not an objective natural science as it has social element embedded in it by design.
Individuals cannot make completely rational economic choices.
We human beings are not completely selfish, just our choices are stemmed from altruistic desires and concerns.
Our economy does not pay an individual what they deserve to earn …remember this pendulum can swing both ways.
In additional to Technology and Service industries a Manufacturing sector is equally important for an economic growth.
Any financial crisis (individual, company, country) can be minimised by continuously working towards de-risking i.e. reducing the risk list to something manageable.
Fear Not to get your government involved in economic planning as long as it is balanced …use their macroscopic view of the country and globe.
In addition to Manufacturing, Social Welfare also has its place and part.
Stop trying to fix Developing Countries with the wrong set of model, tools, methods, systems, etc.
The root of the problem is not Capitalism, but it is in the design of how we use this instrument for economic growth that is strong and sustainable.
Takeaways …
Don’t believe anyone (including yourself) who tells you that free market is the only way to manage economy.
Quite a few alternatives are now available and feasible.
Thanks ….
Blinkist : http://bit.ly/1zSs51s
Ha-Joon Chang : http://amzn.to/1bEXE33
Cheers, PK
Web : http://bit.ly/pk_web | Blog : http://bit.ly/pk_365books | Note : http://bit.ly/pk_note
