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krellor ,

I agree with the sentiment, but it might be more accurate to say that this is caused by laissez-faire economics rather than invisible hand proponents.

Invisible hand just argues that individuals in the economy, acting in their own self interest, can create a net positive when taken together. E.g., a farmers market has many good to purchase and trade, not through coordinated effort, but self interest of each farmer in growing their crops and bringing them to market for sale and trade. The original treatment doesn't discuss regulation, but rather the outcomes of individual actors.

Laissez-faire economics is really a pretty pernicious thing that will steal any idea in support of itself. Likewise, laissez-faire economics is more directly a public policy position that many other economic concepts since it directly argues against government intervention in markets. Personally, I'm for strongly regulated markets because I believe in decentralized decision making being efficient and supporting individual freedoms while also preventing negative externalities, and protecting individuals. I also believe that governments should provide strong social safety nets so as to incentive appropriate risk taking in the market. Meaning people are more likely to start a small business if they don't have to worry about starving in the winter or medical care.

Thank you for attending my TED talk.

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