"I am often reproached for continually attacking the rich. Yes, because the rich are continually attacking the poor."
John Chrysostom, Archbishop of Constantinople sixteen centuries ago, goes on to explain,
"But those I attack are not the rich as such, only those who misuse their wealth. I point out constantly that those I accuse are not the rich, but the rapacious ...." Perhaps an appropriate sentiment for today.
All things being equal, here's how the market works: Price leads the way! During gluts, prices fall and the least efficient pull out of the market. Supply falls and demand increases. Eventually equilibrium is reached where price increases toward marginal cost and risk-adjusted returns to equal the cost of capital.
Then, during shortages, prices rise, sellers profit, and new sellers enter the market. The result, supply increases and demand falls. Eventually a new equilibrium is reached in which price decreases toward marginal cost, and risk-adjusted returns fall to equal the cost of capital. That's free market capitalism.
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Expecting an unregulated market to solve social problems is high risk, especially when large governments and larger corporations are involved. Profitability and wealth-flow often trump social good in the equation.
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Since the 70's, developed nations have seen a widening gap between rich and poor, a stunning rise of the super rich and stagnation of wages for the rest. Laws have been repeatedly adjusted to enable wealth extraction by the upper income and influential segment. The middle has been in a steady decline. Now it appears that the trend is spilling over into the developing world.
These are just some of the economic issues. Of perhaps greater consequence are the cultural and societal changes brought on by economic participation. Materialism seems to dominate the modern marketplace, does it not? Ethics change. Is that a problem?
At the personal level, if we're going to do something good, how do we decide what helps? And anyway, what are 'good works'?