I do believe markets create wealth.

Ofcourse, I am not talking about today's financial markets, which are disgustingly controlled by the financial industry, but about the markets in general. The market, that existed from the beginning, the market where barter trade started, where subsequently information was exchanged and eventually people with capital in excess started to invest in opportunities presented by others who were rich in ideas, but were lacking capital.

Markets that only redistribute wealth also exist nowadays, particularly in the West, but these are perverse markets. However, what is happening in the emerging economies is to a large extent wealth creation, i.e. if they were to account for the environmental disasters they are creating and allocate funds to repair them. I was in China in 1993 and there was no car on the road and absolute poverty was at 80 mln at the time and I can tell you that absolute poverty in those days just had come down from much higher figures like 500 mln. So the market can create wealth, as long as we take into account the costs of wealth creation, which normally are not accounted for in emerging economies.

There again comes in the need for a United Nations (Supra National Government), that adresses the fate of the planet. You ask an astronout, who has had the privilege to see the earth from outer space and this person will tell you first and for all, that the earth has a very thin and delicate atmosphere, which we will have to preserve immediately. If not, mankind will be extinguished very fast.

And let's not blame the Chinese and Indians alone for that. They are just creating wealth like we did before.