Yes, but the particular set of rules is a human construct. It is something other than a natural phenomenon, awaiting discovery. The market in which there is undeniably a "hidden hand" is the function of that human construct that we can improve by consciously changing the rules.Agreed.
The focus of attention for social credit is the financial system, or more specifically the banking or monetary system. We attribute most market failure not to free enterprise per se, but the financial system under which free enterprise operates. So we generally support laissez-faire in markets but intervention in finance.Does this mean that you do not regard public goods and inadequately defined property rights as important sources of market failure?
Unlike Keynesians or socialists, we advocate the payment of dividends directly to consumers and let them decide themselves how they will spend it.Does this mean that you advocate laws against the corporate form of enterprise -- i.e., what used to be called the "joint stock company."
We regard Say's Law to be invalid for anything other than a barter economy.
--
Pat Gunning, Feng Chia University, Taiwan;
Web pages on Praxeological Economics, Democracy, Taiwan, Ludwig von Mises, Austrian
Economics, and my University Classes; http://www.constitution.org/pd/gunning/welcome.htm
and
http://knight.fcu.edu.tw/~gunning/welcome.htm
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