The “invisible hand of the market” is such a fascinating myth, because it frames the results of capitalist endeavors as inevitable and almost holy - but as soon as the sufficiently wealthy and well-connected suffer a setback, then “government bailouts” are granted.
The invisible hand is actually very visible of you dare to look close enough.
The basic supply & demand, “invisible hand of the market” stuff applies at like. A farmer’s market. This is the context Adam Smith was talking about when he made up the invisible hand phrase. If one farmer has cheaper produce than another, he’ll probably get more customers. Anything more complicated than a local farmer’s market is… more complicated.
The “invisible hand of the market” is such a fascinating myth, because it frames the results of capitalist endeavors as inevitable and almost holy - but as soon as the sufficiently wealthy and well-connected suffer a setback, then “government bailouts” are granted.
The invisible hand is actually very visible of you dare to look close enough.
The problem is this time American national debt is too big for the size of bailout needed for AI.
Housing is already maxed out so where is the next thing to prop up the market?
It’ll have to be robotic automation.
Factories are already robotic. Replacing humans is just more tech bro bullshit, like how AI will fix your toilet.
The basic supply & demand, “invisible hand of the market” stuff applies at like. A farmer’s market. This is the context Adam Smith was talking about when he made up the invisible hand phrase. If one farmer has cheaper produce than another, he’ll probably get more customers. Anything more complicated than a local farmer’s market is… more complicated.