I notice that all teaching about Adam Smith invokes a mythical yearning that unrestrained competition will somehow lead to a world of morally relevant economic interactions, rather than to a world of unrestrained monopolies growing ever larger.
Smith’s “invisible hand” was his imagination, and was only used once or twice within his works. His clearer message was about the dangers of monopolies.
Aurelius
npub169…v2thg
2023-07-11 13:16:25
Author Public Key
npub169yu4d6xl8a6d4xvfyhstjdxr0cc7qtfq5pch5kwv4k2wkapa3pq8v2thgPublished at
2023-07-11 13:16:25Event JSON
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"content": "I notice that all teaching about Adam Smith invokes a mythical yearning that unrestrained competition will somehow lead to a world of morally relevant economic interactions, rather than to a world of unrestrained monopolies growing ever larger. \n\nSmith’s “invisible hand” was his imagination, and was only used once or twice within his works. His clearer message was about the dangers of monopolies.",
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