Abstract

The British industrial revolution gave way to an economic system radically different from the ones previously experienced in history. During the last two centuries the system spread worldwide thanks to its inner tendency, and extraordinary capacity, to multiply the production of commodities. At the same time, in addition to economic «progress», the system generates three evils for humanity: real and monetary instability, unequal distribution of wealth, and damages to the environment. Nonetheless, a better system is not in sight. Hence, the unavoidable task for policymakers is to strike a difficult compromise: limiting the three evils by means not inconsistent with the growth oriented nature of the present «mode of production».