We each have our own little story

Friday, May 2nd, 2003

In We each have our own little story, Martin Vander Weyer reviews The Truth About Markets, by John Kay, and briefly addresses the anti-globalist misunderstanding of capitalism as a zero-sum game:

There is no reason to castigate the rich just because the social context in which their markets flourish cannot be transplanted to less stable parts of the world. “We who live in rich states are not rich because those who live in poor states are poor”; trading with us can only help poor states become richer. In that sense, the anti-globalisation movement has got it all wrong, most especially in its claim, expressed on one Seattle protester’s banner, that capitalism should be replaced by “something nicer”. Perhaps, Kay concludes, “that something nicer is capitalism itself”, set in a better social balance.

Leave a Reply