Adam Smith's 'invisible hand',....

and centuries later, Mr. Greenspan's 'primacy of profit'...., insights into the powers of the free markets, to provide for our needs. As opposed to socialism, or worse, and the failed, VERY failed, 'planned economies'. Count them all.
In some lectures by Canadian (eh?) wannabee Illuminati member economist, Dr. Mark Carney, these concepts were mentioned, in the context of the alleged immorality of Capitalism.
The party line is the absence of what makes people happy and secure in this last named system of production and wealth distribution, ceteris parabus.
Well, even these alt leftie, white guilt, self loathing banker types will admit to two important trends over the past decades. For one, that the systems with the vapid 5 year plans all have failed, and in the process, have caused enormous human misery. If you deny this, have your nurse or doctor bump up the dosages of your medicines for reality testing.
And, similarly, that under Capitalism, the percentages of utterly poor continues to decrease, in many places, and remarkably so.
This is not to say that the many poor are no longer with us, as they always will be. But somehow to try to induce 'social morality' into the fix is wishful thinking. As evidenced by the above, and...
The inability to ope-rationalize or even to crudely measure such social variables, for economic models.
The need for the confiscatory redistribution of hard earned wealth in any such plans. Communism is wonderful, until it runs out of other peoples' assets.
And so, in the words of Republican slave freer President Honest Abe, "You can't help the poor by making the well off poor themselves".
In order for these plans to be put into place, big, VERY big, statist government is said to be needed. Just how is that working out in the many Dem ruled big government cities, and elsewhere? Minorities there more happy?
In planned economies, supposedly all promising equality, "from each's ability, to each's needs", soon a tiny ruling (Party) class emerges, and hangs onto power. Often using force and violence.

And so much more. Be careful what we ask for. The Great Reset, my foot.
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Comments (4)

As ever, CC, our friend, who could ever try to argue with any of THAT logic.
It's a revolutionary invisible hand that leads to the one and same cultural values you hate. For Adam Smith capitalism was not the point of being alive which seems to be the difference. Smith was capitalist within limits just as your founding fathers were liberal within limits. They weren't referring to the world and its wife like Reagan or Obama were. You've gone global with pure theory when traditionally of course capitalism was just a tool, and of course your constitution doesn't refer to any and every human being on the face of the earth. You have home, family and way of life to protect. Which was just common sense.
I would hazard a guess that most Trump supporters and maybe even Trump himself would prefer to ban driverless cars. And this isn't Reagan. That would be furious with what they'd call luddites and anti-capitalists under the same philosophy that annointed Davos which gave us the great reset, cold war hawks and their long list of foreign wars. Government intervention to make capitalism more possible throughout the world. At least that's the idea. America first doesn't want to pay to improve foreign opportunities to drive Americans out of work, and to avoid that the state has to work in a very different way.
Yep, CC. There are actually several invisible hands of the economic systems, whether free market, or communist. It's amazing to me that with billions of interactions, the whole thing somehow mostly hangs together.
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Vierkaesehoch

Ocean Coast, Maine, USA

Retired, but busy. Years left to enjoy. Handy, curious, multilingual (German, French, Spanish, learning Portuguese). Love animals. Live on a salt water ocean bay just south of Canada. Angling off the rocky beach. Mussels. Watching the oceans reclaim [read more]