Good For One
A single action may seem good for us, but if everyone does the same, the result is bad.
Category: Free Market
Invisible Hand
When media analysts claim that the free market and the Invisible Hand always arrives at the best answer, try to recall the need for competitive markets and their constrained scope.
Free Market
The Free Market cluster focuses on relationships between the free market, the operation of the Invisible Hand, and the fallacy of composition.
The Invisible Hand’s Scar
We all pay more for less when enterprises violate the integrity of the free market.
Fallacy of Composition
It’s easy to overlook, if everyone makes the same choice, the entire system changes.
Law of Selfish Action
A selfish action by one person may be good for that person, but if all people make the same decision - it can be bad for everyone.
Design without a Designer
Our very, complex economic system has a design without a designer.
Creative Destruction and the Social Contract
Financially arranged consolidation is not creative destruction. It is the transfer of assets without pension responsibility
Free Market versus Status Quo
Are financial talking heads praising the return of free market action? No, they are bemoaning the decline in energy stocks and the change it forces upon the stock market.
Secession of the Rich
The 1% ignore all the societal benefits that accrue to their position, since they don't use them directly.