Problem

Inappropriate uncontrolled markets


Experimental visualization of narrower problems
Other Names:
Uncontrolled market forces
Uncontrolled market economy
Nature:

The continuation of past economic attitudes which affirmed that the economy is limitless, self-sustaining and controlled by natural law, has resulted in there being no perceived necessity for systematic planning, organization and coordination of market facilities. This non-political operating stance is being radically called into question by the present collapse in the economy, as demonstrated in the misuse of the environment and the multitudes of poor people throughout the world.

Incidence:

Global market forces have ensured inappropriate development in developing countries through: allowing the limited numbers of relatively rich to appropriate most, if not all, of the available resources; encouraging the development of industries inappropriate to developing countries because they failed to respond to needs of the the majority of the people; and much of the productive capacity of developing countries has become geared to the needs of the industrialized countries.

Claim:

Markets have a powerful, and usually overwhelming, tendency to encourage inappropriate development and distribution decisions. It is the normal functioning of the global market economy which delivers the available resources to the few and deprives the majority. The refusal to acknowledge that allocation of market facilities is a political process has led to a seemingly unbridgeable gap between the grassroots and the dominating economic powers, thus preventing the equitable allocation. The current injustices in market facilities demand that the wealthy elite at the top of the "pyramid" participate with those at the base in planning and defining equal access.

Counter Claim:

The market mechanism is the most appropriate mechanism for ensuring the most equitable economic decisions.

 

Problem Type:
F: Fuzzy exceptional problems
Related UN Sustainable Development Goals:
GOAL 8: Decent Work and Economic GrowthGOAL 16: Peace and Justice Strong Institutions
Date of last update
27.11.2017 – 18:55 CET