I'm looking for a market for wisdom.

 

I'm looking for a market for wisdom.
--
As quoted in "Close-up : I'm looking for a market for wisdom. : Leo Szilard, scientist" in LIFE? magazine, Vol. 51, no. 9 (1 September 1961), p. 75

 

Leo Szilard

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Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.

 

Paul Ormerod

 

Faith is not belief, an assent to a proposition, faith is attachment to the meaning beyond the mystery.
Knowledge is fostered by curiosity; wisdom is fostered by awe. Awe precedes faith; it is the root of faith. We must be guided by awe to be worthy of faith.
Forfeit your sense of awe, let your conceit diminish your ability to revere, and the world becomes a market place for you. The loss of awe is the avoidance of insight. A return to reverence is the first prerequisite for a revival of wisdom, for the discovery of the world as an allusion to God.

 

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One reason for the primacy of the market in shaping the modern world is that it forces a reorganization of society in order to make the market work properly . When a market comes into existence, as Marx fully appreciated, it becomes a potent force driving social change.

 

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...we need to recognise that the entire information sector—from music to newspapers to telecoms to internet to semiconductors and anything in-between—has become subject to a gigantic market failure in slow motion. A market failure exists when market prices cannot reach a self-sustaining equilibrium. The market failure of the entire information sector is one of the fundamental trends of our time, with far-reaching long-term effects, and it is happening right in front of our eyes.

 

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Without civil intervention the free market tends to monopoly. What we should do is try to restore a truly free market, try to restore a market where there are no barriers to access and people have something other than their labour which they can trade or exchange..

 

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