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by ajkjk
925 days ago
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Well if you need it spelled out: the "invisible hand" refers to indirect social impacts of free markets which are typically meant to be good things. So any example of market-ish behavior causing things that seem incontrovertibly bad, like buying a department chair under the guise of targeted donations to influence policy to (presumably) protect a certain class of actors, is an example of the "invisible hand" doing a bad thing, hence an example of how this "feature" of free markets, often used to defend them, is actually a bad quality. This is totally unsurprising to most people who aren't directly benefitting from an unchallenged free market and it usually seems like the "invisible hand" is brought up as a bullshit argument by those already in power to justify accumulating more power, so it's a point of bitterness, hence the OP's sarcasm. |
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