Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Ruth Rosen (and others) define it thusly ...

Market Fundamentalism, the exaggerated and quite irrational belief in the ability of markets to solve all problems, an economic fundamentalism that has dominated our national political debate for a generation.

And, this is correct. There is a role for markets, for capitalism -- but with appropriate and well-enforced regulation and delineation.

For example, re pollution and global warming, if 'costs to the commons' were put into the calculation, the "market" would be working in a far less damaging way.

And, in the United States, at least, much of the tax code and financial concepts operate against the right choice (e.g., financial penalty against capital investment upfront to reduce energy costs/environmental footprint (39.5 year depreciation) versus ability to deduct that year all utility expenses; focus on quarterly returns rather than long-term; etc). That is one reason why Energize America (www.ea2020.org) placed a focus on seeking to Make the Right Choice The Easy Choice" when it came to energy issues.

NOW -- ONE EXCEPTION -- COMMENT to the diary -- I promise you, this is far from the "world's shortest diary".  Have seen too many one sentence ones (or, to get past systems that prevent that, diaries with the same sentence repeated five times ...).

Thank you for the link, I missed it and am glad to have read it.

Blogging regularly at Get Energy Smart. NOW!!!

by a siegel (siegeadATgmailIGNORETHISdotPLEASEcom) on Wed Jan 31st, 2007 at 09:22:24 AM EST

Others have rated this comment as follows:


Occasional Series