Capitalism is based on competition of a variety of competitors, without competition there is no free market, but only a market for the too big to fail, without real competition capitalism is a combination of firms allied in monopoly to exterminate competition and control prices a trust that controls the liberty of the market, that shackles the rights of consumers, and holds the economy hostage to ransom by the self called best and brightest that crashed the system.
Let us not confuse liberty with freedom or worse with libertine license to satisfy our whim and abuse the rights of the rest. Liberty is the result of Justice protecting the weak, avoiding enslavement of the most vulnerable, shaking the yoke of servitude, on the other hand freedom is the total absence of restraint or lack of restraint.
Liberty applies to individual rights defined by law. Without the law there is no liberty, liberty can not survive in the absence of law, that’s why we have a variety of civil and penal codes that restrict our freedom for liberty’s sake. All the inmates incarcerated have lost their liberty for exercising their freedom, to do their will without respecting the law.
Capitalism can not exist without regulations for then it would be the freedom for the strongest, slavery for the weakest, the law of the jungle, a license to abuse, to exterminate competition by any means, to control prices, to favor the rights of a minority by suppressing the rights of the mayority.
AIG’S CFO Joe Cassano exercised his freedom by intentional and criminal concealment of losses to the public , cooking the books , falsification of financial statements , obstructing auditors oversight, and inadequate risk management of financial instruments to increase short term profits of gambling speculators., disguised as CDS these WMD were designed, with the purpose of increasing short term profits for gambling speculators , who understood clearly they were creating a bubble that would eventually burst and whose consequences would be paid greatly by the weakest members of society. Behavior which really falls beyond negligence to premeditated criminal behavior , that should be punished instead of rewarded with a taxpayer bonus, and classified as domestic terrorism. But Mr Cassano broke the law exercising his freedom and now is guilty of a crime for which he should be convicted and lose his liberty for commiting fraud.
The enron loophole created by the repeal of the glass-steagall act and the enactment of the commodity futures modernization act, destroyed the free market , because the free market remains free under the protection of the law, by regulations that keep balance in the market, just like democracy remains free under the protection of the constitution and just like states remain free under the protection of a constitutional army. The license of laissez –faire economics destroyed the American dream and threatens to destroy global peace.
Animals dont have free will, their only banks are the size of their stomach so there is no possible way for them to crash the system by an overkill of species, they kill what they eat, if you kill it you eat it, with banks there is no limit of what you can kill, because you can store it therefore you have the ability to bring down the system.
The invisible hand in an ecosystem inhabited only by animals is restricted by the size of the animals stomach and by the quantity of species whose growth is restricted based on a demand sided distribution upward pyramid structure to avoid overgrowth of predators.
By including human beings with free will and with no limit on storage capacity,the invisible hand can crash the entire system, that’s why we need regulation that keeps the balance between the base of the pyramid and the peak of the pyramid.
The problem isn’t economists, philosophers or theosophists,
The problem is the wrong interpretation of their writings, an unauthentic interpretation that fits the agenda of financial groups who want to control power.
Quoting Adam Smith, even Adam Smith believed in protecting the weak from injustice. I know no philosopher worth his salt, who doesn’t believe in Justice and who doesn’t understand that liberty is the result of Justice and that both are the foundation of Peace.
Our liberty is limited by law that represents justice that protects the weak.
"Society, however, cannot subsist among those who are at all times ready to hurt and injure one another. The moment that injury begins, the moment that mutual resentment and animosity take place, all the bands of it are broke asunder, and the different members of which it consisted are, as it were, dissipated and scattered abroad by the violence and opposition of their discordant affections. If there is any society among robbers and murderers, they must at least, according to the trite observation, abstain from robbing and murdering one another. Beneficence, therefore, is less essential to the existence of society than justice. Society may subsist, though not in the most comfortable state, without beneficence; but the prevalence of injustice must utterly destroy it.
Though Nature, therefore, exhorts mankind to acts of beneficence, by the pleasing consciousness of deserved reward, she has not thought it necessary to guard and enforce the practice of it by the terrors of merited punishment in case it should be neglected. It is the ornament which embellishes, not the foundation which supports the building, and which it was, therefore, sufficient to recommend, but by no means necessary to impose. Justice, on the contrary, is the main pillar that upholds the whole edifice. If it is removed, the great, the immense fabric of human society, that fabric which to raise and support seems in this world, if I may say so, to have been the peculiar and darling care of Nature, must in a moment crumble into atoms.
In order to enforce the observation of justice, therefore, Nature has implanted in the human breast that consciousness of ill-desert, those terrors of merited punishment which attend upon its violation, as the great safe-guards of the association of mankind, to protect the weak, to curb the violent, and to chastise the guilty. Men, though naturally sympathetic, feel so little for another, with whom they have no particular connexion, in comparison of what they feel for themselves; the misery of one, who is merely their fellow-creature, is of so little importance to them in comparison even of a small conveniency of their own; they have it so much in their power to hurt him, and may have so many temptations to do so, that if this principle did not stand up within them in his defence, and overawe them into a respect for his innocence, they would, like wild beasts, be at all times ready to fly upon him; and a man would enter an assembly of men as he enters a den of lions.”