Jacob argues that we need to reframe the way we think about markets, for “If markets fail the private sector, why should they work for civil society?”
Sean Stannard-Stockton at TP sums up Jacob’s lessons for philanthropy in four points :
- First, and most critically, farmers’ markets offer open information.
- Second, buyers at farmers’ markets are focused on finding value for money.
- Third, farmers’ markets offer simple, intuitive infrastructure that enables smart, safe transactions.
- Finally, farmers’ markets offer a culture of frank friendliness.
Sean concludes, saying, “Jacob does us a great service by evoking the image of the Farmer’s Market to remind us that the core principals of markets is not financial derivatives, overpaid executives and excessive debt, it is people coming together to exchange those things which they value dearly.”
A thought provoking essay as our understanding and appreciation for the word ‘market’ continues to shift in this difficult financial climate…