Chris Matthews - "fortune" magazine
Posted on 11/05/2014 10:14:38 AM PST by fishtank
Those who are already wealthy have little to gain from economic interference. Others are reassured that by simply looking out for themselves they can work towards the greater good.....
.... Indeed, there’s plenty of evidence that the invisible hand simply doesn’t exist. Take, for instance, two of the most important markets Americans participate in: healthcare and education. When shopping for either of these services, it’s very difficult for a shopper to actually know the quality or effectiveness of the product he is buying. For the “invisible hand” to work, customers have to actually know what they need so that they can signal to producers to create it. But customers are so afraid of not having enough education or healthcare that there is really no impetus for them to walk away from a potential transaction. The result? Producers create and charge more and more while society is no better off for it.
(Excerpt) Read more at fortune.com ...
Chris Matthews - "fortune" magazine
Oh, my. If I were a leftie trying to make a criticism of the invisible hand, I think I’d not start with two sectors that are utterly dominated by government.
Yeah....
FORTUNE magazine has fallen, fallen, fallen.
WOW so this so called author seems to like gubment run healthcare and education. Someone please tell him they have been colossal failures. Why even super progressives like Obammie himself sends his children to private schools.
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