I wonder whether we would have anti-capitalists if the economy were run by angels? Angels aren’t omnipotent and can’t disobey God. Would they flourish better in an interventionist or a non-interventionist economy? Soviet Russia or Thatcherite Britain? My guess is the latter.

After Stiglitz and others, more knowledge is likely to be available in a free market than in a managed one. Set as it would be in this example on impeccable moral foundations, market transactions would be unimpeachable and wealth created would be disposed of for the common good. It is also likely that the latter economic model would also create more wealth than the former (for eventual distribution by the angels as private citizens or though the state via taxation). In the case of the former, in spite of their obedience and sinless character, the angels would struggle to be wise enough to manage the global economy, given its size and complexity, and their lack of ability to see into the future. So, if capitalism could be perfect, I imagine it is us who need metanoia, not the system.

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