Well, if free market is the ultimate solution, why heads of all rich countries are sitting by the round table this week in London to try to give an answer to poverty in Africa? The fact is that while the riches get richer, the poor get poorer. If no measure is going to carry out, the poor countries would only be exploited.
From an economist point of view, perhaps they should take the role as cheap labour in a globalized world, but do they deserve a better living environment?
Actually, on the other way around, market economy raises a lot of problem. Taking media as a subject to study. Without government regulations, Commercial media would only air programs which appeal the majority, like Korean Drama. They would keep on airing money making programs, as a result only majority would be satisfied.
It is obvious that minority group of people, which representing a bunch of top mindsets in the society, if not, at least avant garde kind, is totally ignored. As the situation goes on, more people turn their back on TV, the program would only become more and more anti-intellectual, so as the society. Inevitably, our offspring will inevitably become more and more stupid.
The question here is concerning about how to move the civilization forward. Free market economy can only give people what they need, but dare not risk to provide something beyond their desire and challenge their thoughts and existence.
The situation is especially obvious in a small market, like in Hong Kong, where no room for commercial cultural media to survive.
PS, Bollywood is going to hold a film award ceremony in Netherlands. Although most of the dutchs may never seen any indian film, or hardly know anything about bollywood, the move of indian still truly admirable. It's a true step to introduce idian film to the west by holding a ceremony not in the hometown. The show, as far as i know, would be broadcasted to the world. We don't know the rating figure, but it is already arepected move though risky at the same time.