Posted on 09/21/2023 7:58:10 PM PDT by anthropocene_x
Son, you’re eight years old now, and you’ll probably hear this soon enough from the other kids on the playground anyway, so I might as well tell you. Santa isn’t real, the Tooth Fairy is imaginary, and there’s no such thing as the “invisible hand of the market.”
Why did your mother and I lie to you? Well, we didn’t so much lie to you as tell you stories that were untrue, stories that we hoped would add magic to your childhood and also reassure you that capitalism is a good and fair system for everyone, instead of one in which some people can’t afford insulin while other people are Jeff Bezos.
And the thing is, back when Mom and I first told you about the invisible hand, we actually believed in it ourselves—not as a real hand, of course, but as a metaphor for a fundamental principle of economics. The principle I naively thought would save us when I got laid off, but then our mortgage went underwater, and it turned out that not one of Mom’s 223 Facebook friends wanted to get in on that once-in-a-lifetime opportunity she was pursuing at Lularoe.
(Excerpt) Read more at mcsweeneys.net ...
What is Lularoe?
Since I have never heard of such I will not miss it.
Whatta cynic! Of course there is an “invisible hand of the market”. Subverted from time to time, but that doesn’t mean it’s not real.
so capitalism bailed them out when capitalism failed them.
“But Dad, if Santa isn’t real, then how can socialism possibly work???”
I feel dumber for wasting 5 minutes reading that drivel.
It is frequently lauded as one of, if not the founding document of the free markets system.
Government is to the hand of the market as Islam is to the hands of 9etty thieves. So when it’s broken we bksme the market and pine for more of what broke it. D’oh! [eyeroll]
It IS LuLaRoe.
A pyramid scam like Amway.
Ummm… yes it is.
Just because you don’t understand the concept doesn’t mean the effect isn’t true.
There is a visible hand of government... it’s like a prostate exam.
An example of child abuse.
Son…work hard, work smart, give more value than what you charge, think and grow rich.
And above all, don’t fall for the Marxism crap.
Well, at least they want to wear masks and surgical gloves when they give you an exam these days. 😂
Enlightening. We have not had a free market in a very long time. Both consumption and production have been manipulated at least by this government.
But people are not interchangeable "rational actors." They make decisions based on tribal loyalty. They'll take economic hits to promote their family, friends, ethnicity, religion, nationality, values, beliefs, concepts of honor, and to block or hinder their tribal opponents.
People are not automatons, doing cost benefit analyses upon every human interaction, calculating only the profits and losses and nothing else.
The "free market," such as it is, is messy, irrational, and unpredictable. And yes, at times it can even be inefficient, unfair and immoral.
Henceforth, it should always be referred to as the "democratic market", people voting with their money and their feet. Putty-brained Demonrat emotion is 100% controlled by language.
From Wikipedia:
the company allegedly advised its distributors “to borrow money [...] take out credit cards, and some were even asked to sell their breast milk” as ways to buy additional inventory
So let me get this straight. Folks are arguing over Lularoe’s products and business practices. Meanwhile, there is an untapped (no pun intended) market for breast milk? Someone needs to get on top of that pyramid! (No pun intented).
KreamArica Industries has just been born! You never know where that invisible hand will land!
Post of the day!
In a way Evolution is a lot like natural markets. It is quite amazing the numerous innovations nature has come up in the selfish pursuit of survival for individual species. The invisible hand is not alone.
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