Sunday, March 09, 2008

An Invisible Hand Becomes 35,000 Visible Individuals!

Amar Shah writes (8 March) in Financial Markets: ‘from rags to riches … where real advice matters’ here:

A Full Blown Recession & America in Denial

Forget government “of the people, by the people, and for the people.” Adam Smith’s “invisible hand” is now a small group of 35,000 highly paid, greedy lobbyists demanding handouts. They run America from the shadows, for those at the top of the economic food chain and vastly outnumber Washington’s 537 elected officials

Adam Smith’s use of the invisible hand metaphor was not about people or mystical gods. Markets always consist of real people. There is nothing invisible about them, nor miraculous about how they work. They are well understood.


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