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What’s the financial alternative?

wa_jesus_against_money_lenders

It’s easy to blame the money lenders, bankers, stock brokers and other fat cats, but what kind of economic system is not "evil"?

Barter systems only work on a small scale and communism (as charming as it sounds to share everything with everyone) simply doesn’t scale up and is simply unfair to those who work hard.

Plus the financial markets are needed for a modern economy.

Protestors and especially anti-globalization activists should look at the details and not simply blabber angrily against the "system".

Criminal activity and excessive inbreeding of financial products are bad – no doubt about it. But lending is a good thing, stock markets help companies and workers, venture capitalists help new ideas to get off the ground.

It’s all about balance: money markets need sensible direction as well as social systems do. Neither should be allowed to run amok.

Good citizen and good government should understand the need for both. It’s of no use to protest against failures when it’s too late – especially when you enjoy the fruits of "rich overblown markets" before.

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orangeguru (2009-05-30 | 16:22) | Permalink
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