LOONY TUNES NO 102
How to Kill Markets and Add to Poverty
“Assisting the Invisible Hand: contested relations between market, state and society
by Wim Dubbink and W. Dubbink. Issue in BusinessEthics
“Modern liberal democracies are troubled by public problems in which the free market is no innocent bystander. It is therefore generally acknowledged that the market must be controlled. Assisting the Invisible Hand is an investigation into contemporary thinking on controlling the market, especially with regard to the problem of dealing with environmental issues.”
MYLES UDLAND on Business Insider HERE
A Thornburg Investment Management study of "real, real returns," which was alerted to us by Cullen Roche at Pragmatic Capitalism, shows how various costs eat into your stock market returns. Real, real returns take into account expenses (the man), taxes (Uncle Sam), and inflation (the invisible hand).
What invisible hand regulates the free market economy? HERE What is a free market economy/
Answer: “an economy that operates by voluntary exchange in a free market and is not planned or controlled by a central authority.”
Comment: Such an imaginary economy has never existed anywhere at any time in history. Surely economics should be about the real-world?
Lloyd Randall teaches philosophy and humanities at a community college. He posts on Ethics Beyond Compliance HERE
“Sometimes the invisible hand of the markets is all too apparent as it clutches us by the neck and strangles us slowly and painfully.”
Marshall Jevons “The Mystery of the Invisible Hand: A Henry Spearman Mystery”. Princeton University Press HERE
“Henry Spearman, the balding economics professor with a knack for solving crimes, returns in "The Mystery of the Invisible Hand"--a clever whodunit of campus intrigue, stolen art, and murder. Having just won the Nobel Prize, Spearman accepts an invitation to lecture at Monte Vista University. He arrives in the wake of a puzzling art heist with plans to teach a course on art and economics--only to be faced with the alleged suicide of womanizing artist-in-residence Tristan Wheeler. When it becomes clear that Wheeler had serious enemies and a murderer is in their midst, Henry Spearman is on the case.”
Go on -You’ve gotta smile…