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@zer0unplanned@friendica.rogueproject.org

2026-08-06 15:16 UTC

@scriptkiddie The Invisible Hand is a metaphor coined by Adam Smith to describe how individual self-interest in a free market unintentionally promotes the general good of society. When individuals pursue their own profits, they are led by market forces,specifically supply and demand,to produce goods and services that others value. This competition drives efficiency, innovation, and fair pricing without the need for central planning. While powerful, the concept assumes ideal conditions and does not automatically address issues like monopolies, externalities, or wealth inequality.

Replies (1)

  • @scriptkiddie@anonsys.net 2026-08-06 15:20

    @zer0unplanned I don't believe in the invisible hand that regulates the market on its own. I think it was invented solely to oppose necessary regulations. A completely free market will always be exploited by monopolies. Regulation must prevent this so that it can be a free market at all.

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