Free Market Ideology Compared to the Principles of Near Eastern Rulership
In any society, the treatment of debt, land ownership, and tax policies stands as a crucial economic issue. The central question revolves around whether governments will prioritize the common good by regulating financial and property interests or if these interests will evade regulation and taxes, ultimately exploiting society for the benefit of creditors and rentiers.
Government regulation plays a pivotal role in safeguarding the public interest within economies. Without robust regulation, economies risk succumbing to oligarchies dominated by powerful financial elites. This shift, observed historically from democracies to oligarchies, erodes economic balance and viability, favoring creditor interests over societal welfare.
Ancient ethics of mutual aid contrast with modern individualism, where self-serving gain is celebrated as a driver of progress. The current narrative of “free markets” and individual liberty perpetuates a system where financial wealth consolidates at the expense of societal cohesion, echoing the decline of Rome under similar dynamics.
Modern legal principles perpetuate an ever-growing debt burden, justified by notions of individual freedom and market autonomy. However, this unchecked expansion of debt leads to a polarization of wealth and power, with creditors gaining disproportionate influence while the broader population faces austerity measures.
The fundamental flaw lies in the assumption that markets will naturally self-regulate, disregarding the reality of debtʼs exponential growth outpacing economic expansion. Consequently, debt deflation ensues, exacerbating economic inequality and empowering creditor elites.
In essence, the economic trajectory hinges on the balance between government regulation for the common good and the unchecked dominance of financial interests. Without a concerted effort to rein in debt dynamics and protect societal welfare, economies risk descending into polarization and oligarchic control, echoing historical patterns of decline.
🔭 This summary was human-edited with AI-assist.
