When Theology Takes Over Economics
J. Jasper posts a blog (with Z. Brown) with the defiant title of “The Invisible Hand Still Exists Economics Beyond the Textbook” HERE
Jasper, an aspiring economist at Samford University (a private Southern Baptist institution) interested in a career in Finance, writes:
“One of the major reasons I started this blog was so that people could go to a place where the economy and world news is discussed and summarized. I wanted to express the world of opinions and make them available for everyone. In my opinion I was guided by the Invisible Hand to start a blog that made everything make sense.”
Jasper's post comes complete with a daily bibliography of his regular reading, viewing and listening to assorted podcasts. I am sure Jasper is very bright and artiulate. He must also be a busy bee of a student if he attends classes, reads his textbooks and his and views his podcasts listed in his daily biblio.
However, I hope if Jasper ever gets into finance after Samford, he sticks to risking his own money because if he believes there such a disembodied entity as “an invisible hand”, then he does not know the difference between a figure of speech, such as a metaphor, and a noun. There is only so many times that he can claim he made money because of was guided the "invisible hand" and lost it too because he was "misguided" by the same or another "invisible hand". His losing customers will be driven to say: "Stuff the invisible hand! We pay you to choose when to buy and when to sell in visible markets and not your fantasy nonsense of being guided by an invisible hand".