Tuesday, August 10, 2010

Speechless Trash on Adam Smith

'Anon’ on Hub Pages HERE writes:

‘Economist Adam smith was dawn [sic] right when he publish a paper describing "the invisible hand of market theory" - market shifts as if guided by an invisible hand due to change in consumer demands, competition and self-interest. Our busier life and demand for quick cup of coffee on the go changed the way we consume coffee to a new paradigm.’

Comment
Speechless. Rubbish. Adam Smith never published ‘a paper describing "the invisible hand of market theory", nor asserted anywhere that “market shifts as if guided by an invisible hand due to change in consumer demands, competition and self-interest.”

Clearly, you can ‘make it up’ – and do! Worse still, many distinguished economists would believe this trash.

(Yes, I am getting slowly better...or at least back to my normal).

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