My critique of the global capitalist system has three major themes. First, the system favors financial capital but financial markets are inherently unstable and global markets even more so. Second, the excessive reliance on market values and their penetration into areas where they do not properly belong has undermined the stability of our society. Third, we cannot have a global economy without a global society.

Comments and Image

The goal of competitors is to prevail, not to preserve competition in the markets.

Comments and Image

The substitution of monetary values for all other values is pushing society toward a dangerous disequilibrium.

Comments and Image

Studying economics is not a good preparation for dealing with it.

Comments and Image

The prevailing wisdom is that markets are always right. I take the opposite position. I assume that markets are always wrong.

Comments and Image

As an anonymous participant in financial markets, I never had to weigh the social consequences of my actions... I felt justified in ignoring them on the grounds that I was playing by the rules.

Comments and Image

Financial markets... resent any kind of government interference but they hold a belief deep down that if conditions get really rough the authorities will step in.

Comments and Image

The stock market adopts a thesis and tests it; when it fails, as it usually does, it tries out another... that is what produces market fluctuations.

Comments and Image

It's not whether you are right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong.

Comments and Image

Businesses should play to win, but they should also play by the rules. It is in our own interests that our social norms put common interests above the interests of the individual.

Comments and Image