Markets are cages for firms

modern mixed market economies" This term is too ambiguous and unfocused  And without essential class power relations Mixed ? We have these outfit types State civic public private Market ? Outfits of all types interact thru markets  But markets are exceedingly heterogenious Economies ? This really is the noun Modern economies Market economies With mixed qualifying Mixed as in state civic and for profit outfits And for profit both public and private the essential question when push comes to punch Who hits hardest Answer  The profit outfits ... Greenwald stiglitz theorem sets a new welfare paradigm Beyond pigou and tje term "market failure " Failure of spontaneous emergent market outcomes is the norm not the except Pure  Markets don't fail to optim8ze here and there  They simply fail to optimize everywhere No market requires zero intervention  Zero imposed structuring etc  The exception study should be market success not market failure Existing Market results as welfare optimal  is practically zero  in real social systems The hidden revolution in micro  Of the 70's and 80's  Is the road ahead to socialism  just as the much celebrated  Counter revolution in macro Is the road back to the guilted age ... The lacking cohesion Can come from macro and meso Lerner mechanisms Market like systems that provide the CO ordination and incentives to market level firms to stay on the paths  to green earth II ... Guilted age ....... Ie 1870 to 1896 But  A guided age is what we ought to aim for ... An age of Lerner mechanisms Market like decentralized imposed systems To CO ordination and incentivizes  Market level outfits ... Chen Yun talked of markets like they were birds that needed to be caged by society thru the state Actually markets are the cages Firms the birds ..... Markets as cages See coming web site ... CAges for firms