LOONY TUNES no. 175

1

Farzana Aslam, associate director of the Centre for Comparative and Public Law and principal lecturer in the Faculty of Law at the University of Hong Kong, STS (19 September) HERE

South China Morning Post.

Don’t blame globalisation for all society’s ills, in Hong Kong or elsewhere

“Rather than accept accountability for these failings in leadership that have operated at a local and inter-national level, politicians offer up “globalisation” as an explanation. Reference to “global” invites the public to believe that the negative consequences of local economic policies that have accompanied globalisation are driven by an invisible hand, a power beyond the control of local policymakers. This is nonsensical. For example, when politicians deride free trade, they conveniently forget that international trade agreements are always negotiated between nation states.”

COMMENT

The “invisible Hand’ is indeed “a power beyond the control of local policymakers” because it does not exist. 

The idea that it does exist is a Class 1 error, started off by Paul Samuelson in its modern guise from 1948 in his famous textbook.

Otherwise, Farzana Aslam is well informed.

2

Sharon Schulman posts (23 September) in the Philadelphia Inquirer HERE

“Commentary: Voters surprised by reach of government benefits

According to Carr, ". . .government has its own invisible hand - major social programs that are invisible to many Americans either because they are attached to universal entitlement or contributory systems; or, because the government acts indirectly, through private intermediaries or through indirect instruments such as the tax code.”

3

Leonard Uche posts (29 September) Vibesnights Blog

HERE

“Commotion in Umuahia brothel as ‘invisible hands’ beat 2 to death, 6 unconscious

“TRAGEDY struck when two persons, a man and woman, died in a brothel located on 44, Uyo Street, Umuahia metropolis, Abia State, yesterday. Six others were rushed to the Federal Medical Centre, Umuahia, unconscious, from the hotel. 

The cause of the incident was shrouded in mystery, as a version said they were beaten by invisible hands. News of the incident spread like a wild fire, as it drew a crowd to the hotel. The brothel, owned by a lady and said to be notorious for sex workers, was alleged to have experienced such an incident before, which was allegedly covered up.”

COMMENT

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