Government Protects Where Markets Fail

Debunking Market Fundamentalists' Attacks on We the People

Stan Sorscher, a Ph.D. physicist and high level labor representative with the Society of Professional Engineering Employees in Aerospace has spent a great deal of time on the battlefield of economic globalization. Whether around the negotiating table or crafting policy Stan employs his insights into the failure of markets to protect the public interest.

Stan systematically debunks the the myth that market failures are an anomaly and asserts that markets unbound by policy are both inherently hostile to the common good and completely incapable of addressing the panoply of crisis that confront our country and our planet.

"Policy and government actions are necessary to restore balance between the public interest and market interests. The Social Contract should be rehabilitated and incorporated into public policy," says Stan. "Government has a legitimate role to play in creating shared prosperity. This is easily seen in terms of global warming, but other powerful examples are health care and paying for college education. Markets will not solve these problems. Non-market policies solutions are a better solution."

Progressives must resurrect a positive story about the role of government. We must:

1. Rehabilitate Social Contract and the role of civil society representing the public interest
2. Relegitimize the role of policy to balance the global economic interests
3. create global institutions that speak to social, cultural, environmental, human and labor rights of people around the world, with power and authority comparable to the existing economic institutions.

Action Steps:
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