Beruflich Dokumente
Kultur Dokumente
blog titled "Is the Invisible Hand Trembling?" by Mita Chaturvedi. The purpose of what
follows is to explode the fallacies stated therein and also to clear some common confusions
which generally prevail in discourse relating to market.
Closing Remarks
There's a common misconception about free-market economics, answering which I will
end this piece. Analysis of the free market doesn't furnish the conclusion that the free
market creates a land of Cockaigne. It merely demonstrates what happens in a market.
It may be fair or unfair. Just or unjust. Pleasing or appalling. What those who advocate
free markets merely argue is that an attempt to intervene in the market, to make
outcomes fair, just, or pleasing, will end up, more often than not, creating a worse
situation than what market offers.
The critics of free-market should keep this in mind instead of creating a straw man of
the market whose invisible hand automatically sort things out.