Free Market - Criticisms - Simulation of Biological Laws

Simulation of Biological Laws

See also: Social Darwinism

The free market is believed to self-regulate in the most efficient and just way. Adam Smith described this behavior applied to competitive markets with the metaphor of an invisible hand urging society towards prosperity.

Some economists, sociologists and political scientists proposed that in a fully competitive economic environment, the most potent individuals would thrive and in turn society would prosper. Such arguments lead to the consolidation of neoliberalism and laissez-faire.

Read more about this topic:  Free Market, Criticisms

Famous quotes containing the words simulation of, laws, simulation and/or biological:

    Life, as the most ancient of all metaphors insists, is a journey; and the travel book, in its deceptive simulation of the journey’s fits and starts, rehearses life’s own fragmentation. More even than the novel, it embraces the contingency of things.
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    Natural knowledge, seeking to satisfy natural wants, has found the ideas which can alone still spiritual cravings. I say that natural knowledge, in desiring to ascertain the laws of comfort, has been driven to discover those of conduct, and to lay the foundations of a new morality.
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    Life, as the most ancient of all metaphors insists, is a journey; and the travel book, in its deceptive simulation of the journey’s fits and starts, rehearses life’s own fragmentation. More even than the novel, it embraces the contingency of things.
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    I am fifty-two years of age. I am a bishop in the Anglican Church, and a few people might be constrained to say that I was reasonably responsible. In the land of my birth I cannot vote, whereas a young person of eighteen can vote. And why? Because he or she possesses that wonderful biological attribute—a white skin.
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