Markets and systems obviously correct, but the key question is at what cost and to whom. Imagine for a moment that we find ourselves in a situation where energy is limited. Markets will correct themselves by making it expensive, but who'll suffer the most is the poor (while markets might have been reacting to overconsumption by the rich).
Saying markets will correct themselves is like saying things sort out themselves. They do, but usually who takes a hit isn't fair and ethical (as was evident by 2008 crisis).
Markets and systems obviously correct, but the key question is at what cost and to whom. Imagine for a moment that we find ourselves in a situation where energy is limited. Markets will correct themselves by making it expensive, but who'll suffer the most is the poor (while markets might have been reacting to overconsumption by the rich).
Saying markets will correct themselves is like saying things sort out themselves. They do, but usually who takes a hit isn't fair and ethical (as was evident by 2008 crisis).