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| Author: | Brady, S. |
| Title: | Capitalism and serfdom |
| Journal: | Euromoney
1998 : SEP, 9, p. 82-87 |
| Index terms: | ECONOMICS FREE TRADE MARKETS CAPITALISM ETHICS |
| Language: | eng |
| Abstract: | The market, like nature, is red in tooth and claw. It has no concept of ethics, morality or justice. Its agents are predatory and are concerned mainly with their own survival. They have no thought for the good of the system. That doesn't mean the market is bad or that it doesn't work. It means that present prescriptions for emerging economies do not reflect these realities. Nothing highlights more starkly the inappropriateness of the blind application of free market thinking to emerging markets more than the role of hedge funds. |
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