Market, Regulation and Sustainability

Abstract

The argument of this study is philosophically rooted in the paradoxical Grand Design. The destiny of humankind, at all levels of existence and organization, is to optimally resolve omnipotent paradoxes in the universe of tangible as well as intangible phenomena. However, the instinctive behavior of the majority of humankind inherently favors shortsighted suboptimal resolutions. This is specifically so in situations where collective wellbeing and sustainability warrant proactive behavior of free and independent individuals and groups. The study traces back the genealogy of contemporary technology and sociology, the two broad realms of human society, and identifies the market as the central force in technological development and sociological evolution since the Industrial Revolution. Market hegemony, as one of the greatest factors, is apprehended to have overwhelmed the collective wisdom and undermined the individual and group ability to take action in the face of multi-prong threat to sustainable development, which is a great peril to civilization and society. Moreover, there is also that wizardly wheel warranting to be incessantly greased with fast depleting natural resources, many of which, including atmosphere, cannot be replenished. The study maintains that the species of the Homo Sapiens Sapiens must appreciate the difference between forward looking progressive moves and the rat race. It is recommended that unbridled market power should be saddled with pragmatic regulations, specifically aiming at curbing the magical power of electronic media in promoting, glamorizing and even sanctifying consumerism which is heedless as well as headless.