Slaves to the Free Market
Found this in my draft posts from 2006, so I am posting it now: Recently I came across an excellent reprint of an essay by the economist John Kenneth Galbraith in the Atlantic Monthly regarding the dangers of the free market economic system (or rather the dangers of idolizing that system). Galbraith observes the danger in mistaking the tool of the economy and economic growth as a moral end in its own right. This is a mistaken moral view that has gained wide currency in our contemporary society, particularly among business-minded Republicans. To those who subscribe to this view, the purpose of education is to promote economic growth - education has no inherent humanistic value apart from its affect on productivity. In fact, from this point of view, all values that interfere with economic growth are seen as unnecessary frills. Liberals must correct this error, and understand the basis of our support for the free market. The free market system has historically proven to be the...