Thursday, December 18, 2008

市場經濟: 三腳凳子 / Free-market Economy: The Three-legged Stool

When something goes wrong, people start pointing fingers, but usually at others. In a so-called "free market" society (as opposed to states with centralized economy), there are mainly three players:

* the public sector (federal, regional, and municipal govts, and other organizations that are responsible for public good)
* the private sector (industry and their associations and lobby groups, and other for-profit organizations)
* the general public (the Joe and Josephine on the street, consumers, NGOs, community and special interest groups, etc)

Each of these contributes to the wellness and stability of the society. So, it seems to me there is an abdication of responsibility when the free-market advocates put the blame of the recent economic melt-down on the govts, and the govts on Wall Street, and the public on both industry and the govts.

To me, rights come with obligations. The govts have the right (or are given the right) to govern, and therefore the obligation to make and implement sound policies. The industry has the right to make profit, and therefore the obligation to be responsible corporate citizens. And, as to the general public, they have the right to earn a living (among other things), but also the obligation to participate actively in the management of the society, and not to complain only when things go bad.

A three-legged stool will not stand if one of the legs decides to say: "It's not me. I am not responsible."

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References/Links:

* Mind Necessity: "市場經濟的盡頭"

https://www.blogger.com/comment.g?blogID=17028869&postID=7195869997507676066

* Wikipedia: "Public Good" http://en.wikipedia.org/wiki/Public_good

2 comments:

Anonymous said...

凳子論很清晰,
令人容易明白,
不過三隻腳要長短一樣,
說易不易總是會有長短,
咁就好容易向一方傾斜。
三是單數是但有兩隻腳,
攪啲勾結較為貼近一些,
就會做成不平衡嘅現象,
很容易一推就會跌倒了。
若其中一隻腳強度不同,
就會比較容易彎曲折斷,
要三隻腳長短距離強度,
都勢均力敵只是個理想,
世間上似符國民知識水準高如歐美的發達國家都很勉強。
今次的金融大海嘯是三隻腳都聚埋一邊試問唔跌低就假嘞。

Haricot 微豆 said...

Space 兄: The three-legged stool is a model, so perhaps what you are describing is a snap shot of the reality. The question is: What kind of transformation we need to turn things around? US Prez Bush just announced a short-term bailout pkg of US$17.B to aid the Big Three auto companies; and the Canadian Govt and Province of Ontario would likely inject CAD$4.2B on this side of the border. No doubt, the whole US-based economic system is in bad shape, with the industry leg abt to fall off, and the govt leg desperately trying to hang on. My point remains: How abt the general public? What roles could they play to help the situation?

And if indeed transformation calls for a whole new different model (to replace the 3-legged stool), what would you suggest?

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