Showing posts with label desupervision. Show all posts
Showing posts with label desupervision. Show all posts

Thursday, December 20, 2018

Bill Black — How Immoral are Laissez Faire Ideologues? Ask about Drones.


Capitalism prioritizes capital formation and accumulation over labor (people) and land (the environment) because growth. this results in negative externalities that are socialized "for the good of the system" ( read those that own and control the system).

The issue of drone is indicative but actually minuscule in comparison to the effect of prioritizing economic liberalism, really bourgeois liberalism, over social and political liberalism, and favoring capital over labor and land. Human lives are priceless, and environmental degradation runs into the trillions.

This is not even genuine economic liberalism owing to market asymmetries that bias the working of markets aa information transfer systems, warping the signal. For example, socializing negative externality results in market price not reflecting true costs.

New Economic Perspectives
How Immoral are Laissez Faire Ideologues? Ask about Drones.
William K. Black | Associate Professor of Economics and Law, UMKC

See also

AP News
Travelers face chaos as drones shut London’s Gatwick Airport
Gregory Katz And Jill Lawless