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Invisible Hand

The Robots Are Coming! The Robots Are Coming!

Robert Kuttner | Posted 05.25.2015 | Politics
Robert Kuttner

Robots have indeed eliminated a great deal of factory work and are rapidly moving on to product design, medical diagnostics, research, teaching, accounting, translating, copy editing, and a great deal more. Once-secure professions are no longer safe. From that, many economists conclude that we may just have to adjust to a high plateau of unemployment. That assumption is malarkey.

Will It Be As Always?

Henryk A. Kowalczyk | Posted 03.07.2015 | Politics
Henryk A. Kowalczyk

Thomas B. Reed, a Republican politician and Speaker of the House at the end of the 19th century, warned: "One of the greatest delusions in the world is the hope that the evils in this world are to be cured by legislation."

How Laissez-Faire Economics Led to Inequality and Recession

Jeff Madrick | Posted 12.14.2014 | World
Jeff Madrick

The reaction of the economic mainstream to the inflationary turmoil of the 1970s was to retreat to an ideological interpretation of their fundamental ideas -- a doctrinaire reinforcement of laissez-faire economics.

WATCH: Researchers Create Creepy 'Phantom' Sensation

Posted 04.13.2013 | Science

By: Charles Choi, LiveScience Contributor Published: 04/12/2013 02:41 PM EDT on LiveScience Amputees often suffer from a phenomenon known as phant...

Why Can't Republicans Get Behind Capitalist Self-Interest?

N. E. Marsden | Posted 01.27.2013 | Politics
N. E. Marsden

I'm sick of all the palaver about Obama's so-called gifts to poor and middle-class voters. Republicans are free marketeers. Romney was virtually breastfed on Adam Smith. These people are supposed to understand capitalism. Didn't they ever hear of the invisible hand?

The Economics of Scraps: Why I May Vote for Mitt Romney (No, Seriously!)

David J. Dunn, PhD | Posted 12.24.2012 | Politics
David J. Dunn, PhD

Often, only a major crisis can make us abandon one set of beliefs and take up another. So maybe the only way to move past the economics of scraps is to make a full return to it, letting it lead us back to the precipice of 2008, and to step off into a new Great Depression.

Capitalism at the Crossroads

John Friedman | Posted 11.06.2012 | Business
John Friedman

I have never shied away from being a staunch believer in capitalism as an economic system. Not that capitalism is perfect. It is far from it, as evidenced by a myriad of environmental catastrophes, social ills and corrupt behavior.

Hands That Are Invisible

Craig K. Comstock | Posted 09.11.2012 | Business
Craig K. Comstock

While praising a "free market," they would thus learn to privatize the profits, and, with the help of people in government who shared their ideology or perhaps a little of their prosperity, or both, to socialize the losses -- to make the public pay for huge bad bets made by bankers.

We All Do Better When We All Do Better

Stan Sorscher | Posted 07.03.2012 | Business
Stan Sorscher

Lately, the public mood has gone the opposite way. Simply put, we are told that we will all do better when most of us do worse.

Does the Invisible Hand Really Know Best?

Jeffrey Abelson | Posted 06.24.2012 | Books
Jeffrey Abelson

Is the free market really free? Or does it come at the expense of civic values we neglect at our peril? That's one of many questions I found myself pondering after reading What Money Can't Buy by Michael J. Sandel.

Invisible Hand

Jeff Danziger | Posted 02.07.2012 | Politics
Jeff Danziger

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Dead Hand of Governent Impoverishes the Middle Class

Chriss Street | Posted 07.12.2011 | Politics
Chriss Street

Adam Smith, an 18th century economist, pioneered the concept of the "invisible hand" to describe how capitalism through self-interest, competition, and supply and demand, more effectively allocated resources than the "dead hand" of the state.

Market Irrationality in the Law School 'Arms Race'

Daniel J. H. Greenwood | Posted 07.06.2011 | College
Daniel J. H. Greenwood

Law schools depend on their graduates being able to get jobs, and graduates' ability to get jobs depends on USNWR rankings. The consequence is a market-induced disaster.

Iceberg Economies and Shadow Selves: Further Adventures in the Territories of Hope

Rebecca Solnit | Posted 05.25.2011 | Business
Rebecca Solnit

Who wouldn't agree that our society is capitalistic, based on competition and selfishness? As it happens, however, huge areas of our lives are also based on gift economies, barter, mutual aid, and giving without hope of return.

Market's Hand, God's Embrace

Sheldon C. Good | Posted 05.25.2011 | Religion
Sheldon C. Good

As profits and people are increasingly disconnected, does our hope lie in the market or with God? Or have the two become one, turning the market into the Market?

The Death of the Biodegradable Bag

Patrick Vergara | Posted 05.25.2011 | Green
Patrick Vergara

I was stunned to hear that Frito-Lay was discontinuing use of biodegradable Sun Chips bags due to consumer complaints related to the new material's particularly noisy crinkling.

Group-think Caused the Market to Fail

Stan Sorscher | Posted 05.25.2011 | Business
Stan Sorscher

It is difficult to get a man to understand something, when his salary depends upon his not understanding it!

Coffee Party? Tea Party? Join the Brewvement!

Frances Moore Lappe | Posted 05.25.2011 | Politics
Frances Moore Lappe

Coffee Partiers might focus more on the threat of concentrated, unaccountable corporate power, while Tea Partiers' typically target concentrated, unaccountable government power. But see a pattern?

No One Will Ever Be Happy Again

Stephen Herrington | Posted 05.25.2011 | Politics
Stephen Herrington

In attempt to make improvements on which we all agree, Obama confronts a wide ideological division and an opposition that is resolute in that they don't care how bad they make it for the American people.

Alan S. Blinder: Greed Is Not Good

wsj.com | ALAN S. BLINDER | Posted 05.25.2011 | Business

When economists first heard Gekko's now-famous dictum, "Greed is good," they thought it a crude expression of Adam Smith's "Invisible Hand" -- which i...

Economists are Irrational!

Dr. Jim Taylor | Posted 05.25.2011 | Business
Dr. Jim Taylor

Given what has happened to our economy in the last decade, it's hard to believe that any of the "freshwater," "efficient market" economists still have jobs, much less, credibility in how the economy actually works.

Slapped by the Invisible Hand

Mike Papantonio | Posted 05.25.2011 | Business
Mike Papantonio

As Sullenberger continues to speak out, he should make it clear that all the pilots and crews who are still operating in the deregulated airline industry are truly heroes.

Our Moral Audit of the Budget

Jim Wallis | Posted 05.25.2011 | Politics
Jim Wallis

My prediction is that many in the faith community, especially those on the front lines of serving the poor, will rally around the principles and priorities of this budget.

Whatever Happened To "The Magic Of The Marketplace" And "The Invisible Hand?"

Sandy Goodman | Posted 05.25.2011 | Business
Sandy Goodman

Many Americans still believe in the myth of the always perfect free market, in the face of irrefutable, worldwide evidence that there are times when it completely fails.

The Invisible Hand is Dead. Long Live (Smart) Regulation.

David Sloan Wilson | Posted 05.25.2011 | Politics
David Sloan Wilson

I hope that our economy recovers, but the time has come to declare its guiding metaphor dead. This is the metaphor of the invisible hand, which makes...