tag:blogger.com,1999:blog-6666208467022745303.post2956268052429435101..comments2024-03-13T02:17:39.644-07:00Comments on Restating the Obvious: Invisible handsHarry Eagarhttp://www.blogger.com/profile/04196202758858876402noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6666208467022745303.post-38689509998128461712013-05-11T21:33:32.094-07:002013-05-11T21:33:32.094-07:00As elsewhere, you ignore what a functioning market...As elsewhere, you ignore what a functioning market requires: an effective central government enforcing property rights.<br /><br />So you assertion that the invisible hand must work all the time if it is to work at all is nonsense. I have been places where the invisible hand was crushed. <br /><br />They were hellholes.Hey Skipperhttps://www.blogger.com/profile/10798930502187234974noreply@blogger.comtag:blogger.com,1999:blog-6666208467022745303.post-60224455875871577292013-05-06T11:58:42.415-07:002013-05-06T11:58:42.415-07:00Well, hardly. The invisible hand must work all the...Well, hardly. The invisible hand must work all the time, if the theory has any validity at all, unless restrained in some fashion.<br /><br />So, it was working during the slave trade. The slave owners were doing their best to maximize personal assets, and the slaves were trying to escape.<br /><br />It seems the invisible hand did not lay about with equal effect for all. Some few tens of thousands of slaveowners benefited and some tens of millions of slaves suffered, not to mention the millions who were killed.<br /><br />Technology rules. It operates whether the invisible hand is permitted to or not. Harry Eagarhttps://www.blogger.com/profile/04196202758858876402noreply@blogger.comtag:blogger.com,1999:blog-6666208467022745303.post-38936949760666402902013-05-05T20:59:47.512-07:002013-05-05T20:59:47.512-07:00As I've noted before before, the invisible han...As I've <a href="http://greatguys.blogspot.com/2013/05/the-case-against-well-regulated.html" rel="nofollow">noted before</a> before, the invisible hand has done a wonderful job of taking care of most hands, invisible or otherwise.<br /><br />It's often been said that the winners write history and I suppose that would include economic history. What our discussions have taught me Harry, is that each person creates their own economic history. The history that you've created for yourself has very limited overlap with the history of the world that I inhabit.Brethttps://www.blogger.com/profile/15063508651955739056noreply@blogger.com