LOONY TUNES no. 154

1

Nakey Blakey posts (20 July) HERE 

“Sometimes I dream of saving the world; saving everyone from the invisible hand that controls us every day without us knowing it.”

2

Alper Ali Riza posts (24 July) on CM Cyprus HERE 

“Beware the Ides of July”

“Makarios had been in power for fourteen years and loved to engage in brinkmanship. He naively gambled the fate of Cyprus with his famous letter to the president of Greece accusing ‘the invisible hand of Greece of seeking the elimination of my physical existence’, a pompous way of saying that the Greek government was planning to kill him and overthrow his government.”

3

Jayaike Ukoha-Kalus, an economics student of Babcock University, posts (20 July) on PROSHARE (“inteligent investing’) HERE

“In reality, not many people had been getting FX at the pegged exchange rate, as the two hundred and forty (240) year old invisible hand of Adam Smith remains at work over-time to make sure by all means that the market returned to, or reached equilibrium; ensuring that the real incapability of the CBN to provide FX was evident in the parallel market; the monster baby of the CBN.“

Comment

Adam Smith had nothing to do with ‘an invisible hand’ working for market equilibrium. That is a myth promoted by Paul Samuelson (1948). I DON’T BLAME JAYAIKE UKOHA-KALUS FOR THE ERROR: THAT RESPONSBILITY BELONGS TO WHOMSOEVER TEACHES THAT NONSENSE ABOUT ADAM SMITH AT BABCOCK UNIVERSITY (and whomsoever taught the same nonsense to the teachers).