The Economics of Seven50 and Sustainable Development

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Seven50 Economics and Sustainable Development

Learn About the Economics of Seven50 and Sustainable Development

seven50 newsSeven50 is the implementation of sustainable development practices that are based on faulty economics.  The economics of Seven50 will provide for the central planning of resources of homes, businesses and farms to be put to use by bureaucrats and quasi-government agencies for special interests under the guise of the public good.

Somewhere along the way, during the last 50 years, the critique of capitalism changed from condemning its failure to spread the wealth to condemning the very opposite. Suddenly the great sin of capitalism was that it was producing too much, making us all too materialistic, fueling economic growth at the expense of other values, spreading middle-class decadence, and generally causing society to be too caught up in productivity and too focused on the standard of living.

In noting this dramatic change, Murray N. Rothbard writes that the turning point might have been John Kenneth Galbraith’s 1958 work called The Affluent Society, which is one long harangue against consumerism, middle-class decadence, and the ever-increasing wealth of the average person under capitalism. Galbraith claimed that all of this was coming at the expense of public institutions and public infrastructure.

In 2006, John Bratland, an economist with the US Department of Interior, wrote in an essay that:

“the theory of intergenerational sustainability largely ignores

1. the valuations and actions of individual human beings,

2. the critical function of private property rights and

3. role of market institutions based on voluntary monetary exchange.

By ignoring these features of human life, the case for sustainable development provides no rational framework for dealing with emerging scarcities. The concepts of valuation, capital, and income only take on valid or coherent meaning in the context of individual action, private property and market exchange.” 2

Seven50 will produce an environment of economic malinvestment ending up like the recent housing bubble.  Seven50 cronies will profit while South Floridians foot the bill.

Economics Supports Free Markets and Private Property Rights

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