LOONY TUNES no 170
Alisdair Macleod posts (9 September) HERE
“The impoverishment of the masses”
“There is something in the human psyche which denies economic truths. The explanation as to why free markets work is logical and simple to understand. The contrary evidence, that statist attempts to interfere with Adam Smith’s invisible hand always fail, is irrefutable. Yet the blame for failure is always laid at the door of capitalism. The few of us that persistently insist that right is not wrong and wrong is not right attempt a seemingly hopeless task of persuading the unwilling"
“Invisible Hand of the Network“
Ted Cruz Still Blatantly Misrepresenting Internet Governance Transition”
“Saying any one group controls the internet is as absurd as saying who “controls” capitalism or globalization itself. But everyone has their version of control. Silicon Valley billionaires may insist we surrender to the invisible hand of the network, which simply chooses disruption and convenience over accountability and ethics. For the federal government, it’s far easier to accuse the private sector of being in control and thwarting national security than admit that mass surveillance is an expensive and incompetent tactic.”
Timothy Boyle posts (10 September) on The Age (Australia) HERE
“Hawthorn, Sydney and Geelong have generated a kind of microcosmic alternative to the social principle of Adam Smith's "invisible hand", in which he argued the whole of society would benefit if individuals focused on their own success. The "invisible hand" in football is a social atmosphere, a program of shared behaviours and attitudes enforced by teammates in order to lift individuals into their best form.”
(31 August) in VALUE WALK (In The Foundation for Education) HERE
“Markets Break Down Barriers”
“These stories constitute but a tiny sliver of many thousands, if not more. They lead us to an interesting question: how is it exactly that markets fight social discrimination? Markets work in very different ways than the obvious and visible hand of state-driven policies. While the state seeks to outlaw and abolish caste identity by making discrimination illegal, markets work in quiet and invisible ways by making caste identity irrelevant.”
Englewood Staff post (31 August) on Englewood Daily HERE
Tuesday Trading Session Recap: Weyerhaeuser Co. (NYSE:WY)
“Stock exchanges work according to the invisible hand of supply and demand, which determines the price where stocks are bought and sold. No trade can occur until someone is willing to sell a stock at a price that another is willing to buy it at. When there are more buyers than sellers, the stock price will rise because of the increased demand. Conversely, if more individuals are selling a stock, the price will decrease.
On any given trading day, supply and demand fluctuates back-and-forth because the attractiveness of a commodity’s price rises and falls. Because of these fluctuations, the closing and opening prices are not necessarily identical. A number of factors can affect the attractiveness of a stock in the hours between the closing bell and the next day’s opening bell. For example, if there is good news like a positive earnings announcement, the demand for a stock may increase, raising the price from the previous day’s close. It follows that bad news will negatively affect price. “
LOONY TUNES no. 168
Editorial (29 September) in the Dallas Morning News HERE
How Dallas has become a middle-management capital
Between financial and professional services, Dallas has become a middle-management capital.
How to keep the momentum going? We trust in the invisible hand of a free market, but it’s also crucial to keep investing in people. A competitive workforce is our greatest competitive edge.
Elizabeth Rayne posts (29 August) in blaster HERE
“The Ten Spookiest Unsolved Mysteries in Space”
“Already haunted by bizarre ghosts and undead stars, it harbors unseen forces that tear at the universe like invisible claws and has covered up astral cannibalism and lunar murder. Investigating scientists have not always been able to make sense of why things appear out of nowhere, disappear into nowhere, happen against astronomical odds, or even exist.”
Peta Tait, a professor of Theatre and Drama, La Trobe University, Australia, posts (29 August, 2016) HERE
“Sequins and symphonies: how opera ran away with the circus”
“Invisible hands seemed to tear at a solo female performer in extreme thrashing, stabbing and writhing until she left, precariously walking on bent toes.”
Shaun Nicols posts (29 August) in The Register HERE
“FAA powers up an invisible hand, groping the skies for rule-busting biz drones”
Abhishek Sharma posts (29 August) in Himalayan Times HERE
“Guided development model: More of a hindrance?”
“The state merely functions as a neutral arbitrator between citizens and private actors who are engaged in economic activity as independent agents with the sole goal of maximizing profit.
The state only intervenes through the judicial channels once there are disputes between private parties related to allocation of economic resources or with respect to the enforcement of contracts.
Economic activity, it was believed, was best left to the discretion of the private sector with only minimal state involvement.
The “invisible hand of the market” would then ensure that the fruits of increased productivity and wealth creation would accrue to all sections of society.”
Follow the link and read a most interesting dismissal of the experience of applying “invisible hand” economics in Nepal.