A New Meaning of Economic Choice: Modes of Empowerment
Author(s)
Brandt, Barbara
Abstract
The market model has many important limitations. Market systems can not meet the needs of people who do not have money, which means that they are systematically biased against poor people, people without jobs, dependents such as children, sick people, and frail elders, and those who care for them. Nor can they take into account the long-term effects of economic activities, such as the damage they cause to the natural environment, unless such non-monetized “externalities” are consciously included in costs and prices. This chapter adds depth to a discussion of the emerging postmodern economic paradigm.
