LOONY TUNES no. 144

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William Pesek posts in Barron’s HERE

“Why Xi Refuses to Let China’s Zombies Die”

China’s stealth stimulus and debt-for-equity swaps will delay tough action needed to tackle overcapacity.

“In other words, the invisible hand of the state is playing an increasing role in an economy Xi claims to be turning over to the private sector and market forces, deadening China’s animal spirits.”

Comment

From the fantasy “invisiblle hand” of ‘supply and demand’, ‘the price system’, ‘the market’, ‘unexpected consequences’, and much else, William Pesek gives us the ‘invisible hand’ of the state. Paul Samuelson (1948) has a lot to answer for …

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Kelly L. Smith is vice president of strategic partners for the Bluegrass Institute, a free-market think tank. HERE 

Ky. cities must not follow Austin on ousting Uber

Its clear that Austin wants to play at being the “invisible hand” of commerce and pick winners and losers. But if you’re the creative, artsy type and want to see real free-market innovation, skip Austin and head to Grand Rapids, Mich., where the power of the marketplace on the art scene is unleashed annually via the privately sponsored ArtPrize. The entire city for more than two weeks each year becomes an interactive art gallery with the largest publicly attended exhibit on the globe. You can even use Uber to hop from one exhibit to the next.

[Read more HERE: 

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Jonathan Cummings posts (26 June) on HAARETZ HERE 

“Revealed: How Israel really got hold of airport plans ahead of Entebbe raid” [1976]

“It hints at Israel as the modern incarnation of the biblical “mighty hand” and “outstretched arm” that rescues Jews, as well as the more sinister image of the invisible hand of Jewish influence over global affairs.”