Friday, September 3, 2010

The Trend Towards A Pure Market Economy.

Let's go even deeper: both preferences and incentive-motivated behavior are dependent upon beliefs and ideology. As we move away from these, the Dark Ages of economics - which is characterized by economic ignorance and economic illiteracy - and as we move towards a more enlightened knowledge of human action and of the human reality, the preferences and the incentives that motivate behavior will be different. This is the inevitable movement (and intellectual and spiritual evolution) associated with an ever-advancing civilization which is what has been happening from the beginning of recorded history.

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