Reade Holtslander

I agree with you. Time changes, values are being adjusted as humanity grows up. A real evolution should encompass the "growing out of certain inhumane behaviors" and "growing out of abuse and addictions" and why not mention here "growing out of envy, hatred, mania grandori, hunger for power etc.

I have the confidence that 2011-2012 will be the time in history when people will get to the point to understand the pattern Life follows, the order will come from within ... its just a mater of time, time being a relative perception based on the flow of events humanity goes thru.

please consider to join:

http://www.researchgate.net/group/Global_Economic_Reforms-an_Urgent_Global_Agenda/members/

here we may find the answers. Also observe the related groups on main screen lower right corner of the group.

Thanks,

Adrian Toader-Williams

Muhammad Irfan Chani

you refer to Adam Smith vs Karl Marx, right ?

Both were excellent observers of human nature and what was happening in their time. They are both men and philosophers of their time however. I daresay other philosophies will take centre stage as the times change.

Reade Holtslander

I agree with you. Time changes, values are being adjusted as humanity grows up. A real evolution should encompass the "growing out of certain inhumane behaviors" and "growing out of abuse and addictions" and why not mention here "growing out of envy, hatred, mania grandori, hunger for power etc.

I think Smithian philosophy ensure the efficient use of resources through market mechanism but this market mechanism gives more o those who already have more and gives less to whome who already have less, this leads to economic inequality.

While Marxian thoughts seems to be more political than economic, they ensure availability of basic human needs to reduce the human miseries through sharing of economic resources. But this philosophy gives birth to economic inefficiency.

Adrian Toader-Williams and Reade Holtslander have nice ideas that over time evolution of human thoughts will provide a better solution to these problem.

Do you not think economic inequalities among the human beings of different geographical regions will give birth to different philosophies that may lead to conflict.

Muhammad Irfan Chani,

Conflict is extremely possible as the tune-up as the changes are being impose by nature itself. Not everybody will feel comfortable as the hunger for power, often confused with self-realization, self-development, still dominates embedded with capital and financial holdings. I call them "deadly assets" since the impact of over-accumulation conducts to social diabetes and its related ailments. Other "toxic activities" I associate with the related tobacco induced health problems.

I'd suggest my paper on the HUMANISTIC ECONOMY (of future) vs. existinig finansocracy. If you wish you can find it here: http://www.proza.ru/2011/08/23/704. US and UK are instruments (bodies) that are handled by global parazitofinansocracy just because the latter needs to somehow "legitimize" its power, parazitofinansocracy is not able to act openly.

This paper pay attention to income distribution in major economy/country types and to a mode of income distribution in a globalized economy, discovers major reasons of unfair, parazitic income flows

There is a book called beyond adam smith by kaushik basu it adresess the same problem i recently completed it.

Dear Basanth Kommadath! can you please share the summery of that book with readers of this post?

sure, it says the need of adding some sociology to economics that is we also should consider the context(the country, area, time ) norms, values culture ,custom etc instead of relaying on the models developed in the western context when applying to the developing countries.

it also critiques and analyses the both Marxian and invisible hand model of smith.in the case of smith he argues that his theory was misrepresented by giving over importance to the invisible hand theory

he also challangers to rethink the stringent assumptions used in economics and

Proves that a more equitable society is possible. At the end he gives a good policy recommendation for equality in the globalized world that is to offer a part of the aggregate profit earned to some fixed marginalized poor of the society instead of giving a fixed amount of money to them

Thanx Basanth Kommadath for sharing with us the hopeful findings of the book.

@ Peter John Palms PH.D "Default will occur in the $ trillion debt of the USA 202 Power corrupts and devel0ps until the final stage when absolute power corrupts absolutely". I think this time is not so Far, it will happen very sooon.

Peter John Palms PH.D, Sir can u please send the attached file "democracycapitalism.doc" again because the attached file has some problem.

@ Peter John Palms PH.D, I think it will happen before 2034 probabily around 2025.