[P2P-F] self-regulating markets

[Michel Bauwens]

The book indicates the imbrication of governments and corporations
determining how markets 'really' function, and since markets are always
embedded in societies and their institutions, self-regulating markets seem
to me a contradiction, which changes the subject to 'what kind of
regulation' and obviously,  a state captured by private interests is not a
good solution. Self-regulating market ideology means in practice, today,
'let greedy corporations regulate themselves amongst each other, without
interference from other stakeholders and no consideration for the common
good'.

The direction to seek solace, is to take both a commons point of view, i.e.
seeing markets embedded in the natural, human, and productive commons, and
to take the point of view of multiple stakeholders. We need to find
mechanisms so that various stakeholders, i.e. all those that are affected by
a particular market, can set parameters within which the market can operate.
Within these parameters, maximum freedom could still be given to the
enterpreneurial entities operating in  particular market.

But these are still 'external' constraint.   How do we make constraints
'internal'; my answer is increasingly, by reforming the 'format' of the
corporation to mission-oriented enterprises, who by their very social
charters are ethically and legally obligated to serve a certain commons or
social good.

To answer the tragegy of the commons itself. I indeed believe that commonses
themselves are partially selfish, since they care about their own commons,
not the global good; this means that there is still need for collective
society and its institutions, which can similarly set parameters ... but in
my view, that 'society', those institutions, are themselves constituted of
the variety of commons and their commoners/citizens, not by a 'captured
state'.

On Mon, Jun 20, 2011 at 10:50 PM, Franco Iacomella
<franco at freeknowledge.eu>wrote:

> El 20/06/11 04:18, Michel Bauwens escribió:
>
>  basic thesis: self-regulation is always done for the benefit of the few
>> ...
>>
>
> Interesting book Michel, thanks for sharing.
>
> About the thesis: if all self-regulated markets benefit a few, then the
> thesis excludes the possibility of organizing self-organized commons-based
> markets?
>
> Following commons theories, collective action institutions are valid
> instruments to govern commons (as markets), so if self-regulation and
> autonomy leads to "injustice", self-regulated commons fall in a new tragedy?
> what do you think?
>
> Best,
>
>
> --
> Franco Iacomella
>



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