Abstract
a society to improve the standard of living of its citizens in general. This conflict might be less compromisable than it is usually assumed to be due to some intrinsic logical uneasiness within any economic system, which would perpetually create uncertainties in the market. As a matter of fact, market economy is paradoxical in nature in the sense that some good will of development in a market economy would logically hurt the economy itself. This paradox is the result of logical conflict of the following two facts: 1) economic development would aim at increasing productivity which would potentially lead to a reduction of human workforce in individual enterprises. This is because of the common goal of maximizing profit through cost reduction, including the reduction of the cost of human resource; 2) the ultimate economic responsibility of a society to increase the standard of living for ordinary citizens would require a higher employment rate with increasing wage rate since the major income for most families is employment wages. This writing provides an in depth philosophical analysis on the logical conflict that determines this paradoxical nature of market economy that causes incessant uncertainties in the market, from which we might see some important tasks for us to carry out in the future.
Highlights
It has been acknowledged for quite a long time that the economic responsibility at an enterprise level is often not in line with economic responsibility at a societal level
For the former the main responsibility is to maximize the profit for shareholders, while for the latter the chief responsibility is to increase the standard of living of ordinary citizens in a society
Many factors have been viewed as important causes for different levels of economic uncertainties such as unforeseeable or uncontrollable natural disasters, political turmoil, war, as well as individual situations created by normal competitions or irrational fights between rivals during market competitions, and so on
Summary
It has been acknowledged for quite a long time that the economic responsibility at an enterprise level is often not in line with economic responsibility at a societal level. One important goal of economic development is to help business owners in private sectors to increase work efficiency per capita, which indicates a reduced need for human employees for a given production size.
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