The first principle of the market economy is that it is comprised of many small buyers and sellers, which implies a substantial degree of equity. Another fundamental market principle is that costs are internalized in the producer's price.

So, there is enormous instability in the global economy with a shift of winners and losers.

Our global economy is out of control and performing contrary to basic principles of market economics.

Wall Street sees a social fabric or social contract as inefficiencies, which need to be removed.

But we can also take the radical view that the test of an economy has to do with the extent to which it is providing everybody with a decent means of living.

Not exclusively, but the bulk of our local economy should be covered by local currencies, which is more efficient than having global currencies which lose connection with reality in the markets, shops and communities of the people.

In a world of increasing inequality, the legitimacy of institutions that give precedence to the property rights of 'the Haves' over the human rights of 'the Have Nots' is inevitably called into serious question.