LOONY TUNES No. 103

1

Llewellyn King (lking@kingpublishing.com) is executive producer and host of “White House Chronicle” on PBS posts: HERE Adam Smith’s “invisible hand,” describing the efficient operation of markets, has morphed into a something else: an invisible hand in my pocket and yours.”

2

Charles Gaba posts (24 Sept) on ACASign ups.net

HERE 

"Obamacare = Socialism!" Claims Given the Finger by Invisible Hand of the Free Market, Part 11Source: Forbes, 09/23/14: State Farm, Blue Cross Partner To Sell Obamacare Policies:  Mark N.

“This one comes to us from that bastion of Socialist-Communist-Pinko thinking known as…Forbes.com:"

3

Reihan Salam (18 October)  (From SLATE) HERE 

“Comment: Amazon is what the American economy needs”“

We've all heard of Adam Smith's "invisible hand" that guides the free market. The invisible foot is the invisible hand's brutish older brother. It is the force that sees to it that capital gets reallocated from firms that aren't doing their jobs to firms that are by putting the former out of business.”
4

Bryant McGill, best-selling author, speaker and activist in the fields of self-development, personal freedom and human rights, posts HERE 

“There is an invisible hand at work in the making of beautiful lives.”
5

Ann M Florini, Carnegie Endowment for International Peace, Paper prepared for the Annual World Bank Conference on Development Economics, Washington, D.C., April 28-30, 1999. HERE 

“Does the Invisible Hand Need a Transparent Glove? The Politics of Transparency.”
6

Shellie Karabel, who “has spent more than four decades as an international broadcast journalist covering most major international new events since 1980 throughout Western and Eastern Europe and the Middle East for outlets such as ABC News, PBS, AP Broadcast, and CNBC", posts the following absolutely untrue statement about Adam Smith on Forbes HERE 

“Adam Smith spoke of the “miracle of the ‘invisible hand’,” – a metaphor for “hidden market dynamics that bring about a socially optimal outcome when self-interested agents (“businessmen”) in a market try to maximize their personal benefits.” 

Comment

May I suggest that Shellie read Adam Smith first before asertively passing on made-up nonsense about what Smith said when he used the metaphor of “an invisible hand?  

His actual words bear no resemblance to what she alleges.