It’s funny. Adam Smith used the metaphor of the invisible hand to describe how markets turn Good A in the hands of Firm A into Good C in the hands of Firm E - and in that context, it’s really quite an apt metaphor. But it doesn’t describe a matter of morality or even of maximizing efficiency - it simply describes a self-directed process. Yet right-libertarians and the like drool all over it as though it was a religious precept.
It’s funny. Adam Smith used the metaphor of the invisible hand to describe how markets turn Good A in the hands of Firm A into Good C in the hands of Firm E - and in that context, it’s really quite an apt metaphor. But it doesn’t describe a matter of morality or even of maximizing efficiency - it simply describes a self-directed process. Yet right-libertarians and the like drool all over it as though it was a religious precept.
I suppose to them it is.