Tuesday, February 9, 2010

A Responsible Market Economy

Deny it with rationalizations, or ignore it if you must. But there is a social responsibility that accrues, a moral obligation that must be continually honored in recognition of the generous provision made to the successful upper and middle classes by our open, competitive market economy. And it is owing to those unable to compete or defeated in the competition: the poor, the infirm, the unable. What's owing are the survival basics: health care, education, and a subsistence living for all.

Yes, this represents the higher sense of social responsibility that an advanced society acknowledges to its citizens, but it is also dictated by the more pragmatic concern for strengthening the labor and intellectual capital components of our economy--and ultimately reducing the cost of both.

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