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View Full Version : Adam Smith's Not-So Invisble hand



Tempest
10-10-2008, 02:23 PM
Uh- Oh Somebody let it slip out
Some people just can't keep a secret.;)
Not even the richest, most powerful man in Italy.
Berlusconi didn't get that way by being stupid.

http://www.reuters.com/article/companyNewsAndPR/idUSLA50874220081010

You watch -it will happen in the US. And you can bet it will be discussed behind closed doors at G-7.

Adam Smiths Not so invisible hand-Market holiday.

Tempest
10-10-2008, 03:59 PM
And the White House denial.

http://www.politico.com/news/stories/1008/14459.html

They just don't get it.
They will-seriously.

Now lets set the mood for next week.
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Fivetears
10-10-2008, 09:46 PM
The invisible hand is a metaphor coined by the economist Adam Smith. Once in The Wealth of Nations and other writings, Smith demonstrated that, in a free market, an individual pursuing his own self-interest tends to also promote the good of his community as a whole through a principle that he called “the invisible hand”. He argued that each individual maximizing revenue for himself maximizes the total revenue of society as a whole, as this is identical with the sum total of individual revenues.
http://en.wikipedia.org/wiki/Invisible_hand