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ForumsDiscussion Forum → Republicans to "repeal parts of Obama's Healthcare Initiative"?
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Republicans to "repeal parts of Obama's Healthcare Initiative"?
2010-11-09, 8:22 AM #121
attic over a crack shack
2010-11-09, 8:52 AM #122
Deep fried crack shack.
2010-11-09, 11:13 AM #123
I'd dispute this, but you are in fact correct.
nope.
2010-11-09, 6:14 PM #124
[http://img.listal.com/image/629836/600full-trainspotting-screenshot.jpg]
Epstein didn't kill himself.
2010-11-10, 6:31 AM #125
Originally posted by mscbuck:
Jon is right here Potato. The invisible hand has nothing to do with supply or demand. The invisible hand are just the invisible forces that make people behave a certain way...

Before you tell Jon'C about the concepts of supply and demand, just notice that when drawing a simple supply and demand graph, you always have to add too it to represent an externality. That by its definition assumes that sometimes markets don't adjust for what we deem are negative externalities. One might argue that "Well, a free market would adjust and you could always just contract everything!", but the transaction costs of this are sometimes so high that it leads to greater inefficiency to make things even clearer. For more on that, check out Normative Coase vs Normative Hobbes.


? Did you read my replies to Jon? I said that Adam Smith wasn't talking about public goods, not that I didn't know what they are.

And no. The "invisible hand" has a lot to do with supply and demand. People "behave a certain way" and supply goods for which there is a demand because they can make money from doing so. The whole point of the analogy is about people tending to supply the things that other people want to buy without anyone having to make them.
It took a while for you to find me; I was hiding in the lime tree.
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