Dawn Upon Twilight Skies

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There will always be finical incentive to distort economist point of view.

Private interest have incentives to capture free markets.

Adam Smith believed that governments had mandatory rolls in provisioning good, ensuring education, development of infrastructure, and most importantly administrating justice.

He believed there should be a robust justice system. He thought a free market meant free from distortions of cartels that monopolize the market. He warned against allowing private interest to dominate and distort market mechanisms. Such practices of distortion in the natural function of the market were detrimental to the public interest.

He believed the invisible hand of the market had community benefit when individuals who attempt to serve their own interest. This didn't extend to vested interest seek to manipulate information to ensure advantageous outcomes.

There are finical interest to preserve the status quo. Propaganda is deployed to curtail economic justice.

Remedies:

Government subsidized access to justice. This would mean a subsidy if you don't have the money to enforce a contract against someone that is well resourced. We should have the opportunity to have your cases evaluated, and accepted by a private attorneys insured through a public partnership. Attorney fees should be paid by the state if our case has merit. If the case is won fees should be paid in damages. The state should be repaid for fees accrued during this contractual enforcement action.

Private venture capital must be challenged by a public option. There must be state backed entity used for the purpose of entity formation incubators. These incubators should provide education, networking, and initial seed funding for promising ventures. This is done on a limited basis by the Small Business Administration. Although should be greatly expanded.

Prize funding insurance policies for common good projects in public partnership with private entities. We must have a public works acting as a coalition aggregator for entities. Tax on financial speculations of equities, and derivative contracts should pay for insurance policies. These policies would payout in the form of prizes targeting large scale projects that are beyond the risk assumption capacity of firms. We must evaluate a firms capacity to complete the project at hand. In addition the firm could be bonded for projects in which an entity may have the required expertise. They may not have the finical capability of assuming the risk regarding specific facets of a given project.

Finally enforcement of code of conduct regarding business ethics. There used to be a thing in business called business ethics. It was meant to educate those in business of their ethical obligations to the public interest. Philosophically education isn't enough. It is clear there must be enforcement to act as a ballast against the race to the bottom that unchecked greed incentivizes.

Aaron Baker