On account of my article “Capitalism, Free Markets and Patents: Grounds for a Major Policy Revision“, I received a list of arguments that do not support my proposal.
I have decided to opt for a three part discussion of my earlier piece. In the first part I deal with simple economic theory. Its function is to summarize what is important to remember when any economic framework is discussed. This part focuses on market capitalism and what mechanisms are at hand. Its objective is to establish a clear view on economics and its terminology. It sheds light on the context of my proposal.
Part II discusses the arguments made for and against my proposal. This part discusses all the arguments made during an interesting conversation I had over the e-mail. It covers a wide range of key factors determining the added value of this proposal, as it covers the arguments against it. Upfront it is probably most fair to state that I stick to my proposal. Part II clarifies my position in much greater detail. If you were not convinced by the original article, I hope discussing the merits of these arguments will convince you to demand a major policy revision. My apologies upfront for the length of part II.
Part III is currently under construction. I will give an update once I have made some progress on it. It deals with the current economic mess. It deals with the question why this crisis is even possible in the first, and what its effect will be on the real economy.
It deals with gross imbalances, monopolies, and legal frameworks… I must admit, this is a time-consuming exercise. I want to write on these matters in a careful, well thought-through, and balanced manner. I am not interested in cutting corners, certainly not when corners are fundamental to what one is talking about. I hope to give you an update, soon.