The Inhumanity of Free Markets
Some people insist that the solution to every societal problem is ‘free markets’. They base that on a sentence or two written by Adam Smith a couple of centuries ago.
Markets are said to release ‘the animal spirits’. We are human beings, however, not ‘animals’.
Human beings are imbued with compassion for one another, even those who are not our mates or relatives. We even have compassion for other animals. No other creature on the planet has pets.
Also, only humans have the capacity of foresight. Animals can only react to whatever is immediate in their environment. We can see where things are going and choose, if we are wise enough, to change course to avoid negative consequences.
Free markets combine a denial of compassion with a refusal to avail ourselves of foresight. They are inhuman.