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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.

And each of these perspectives comes to the same conclusion, which is that our global economy is out of control and performing contrary to basic principles of market economics.

My claim is that we do not have a market economy, but a capitalist economy.

Capitalism and the market are presented as synonymous, but they are not. Capitalism is both the enemy of the market and democracy.

Capitalism is not about free competitive choices among people who are reasonably equal in their buying and selling of economic power, it is about concentrating capital, concentrating economic power in very few hands using that power to trash everyone who gets in their way.

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.

It is interesting to note that the 200 richest people have more assets than the 2 billion poorest.

Global competition is about winners and losers.

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

If you look internationally over the last 50 years there have been improvements in the third world, but in the last 20 years the reverse has happened, with debt crises and increased poverty.

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