Wednesday, October 12, 2016

LOONY TUNES no.177

1
Mike Paulenoff posts (11 October) on Investing.com
Only a sudden upside reversal (the invisible hand) the propels ES back above 2141 will begin to neutralize the potential damage of Tuesday's weakness.
2
The Reddit Bureau of conomic Research HERE
Remind me again what Smith was talking about with the "invisible hand", wasn't he just talking about the natural ebb and flow of supply and demand?
[–]Grst

He was using it to describe spontaneous order. Namely, that individuals acting in their own interests will produce desirable social outcomes without anyone consciously seeking or planning for those outcomes, and would more than likely do so better than if they were intending to.
Comment
internet denizen is correct; Grst is wrong. The modern version of the IH is a gross exaggeration. 

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