It is funny encountering a post from 2008 about contemporate macro-economics in 2012... I don't know econ, but tell me this, can we in principle do better?

Forget economic ideologies for a moment, and just... Maximise, if you will excuse the term... Human Morally agreeable utility (want education in third world countries, economic stability, social security, food in our stomachs, resource efficiency, no war [approx. a thousand or so items excluded]) How do we handle all this global market rollercoaster rides causing badness?