Quote from: Cnut237 on Today at 02:23:15 PM

Quote from: _Miracle on Today at 10:45:51 AM

finally someone who doesn't mangle the invisible hand concept

It didn't need any help though, surely? It mangled itself. It's an outdated and discredited concept, more wishful thinking than anything else.

Quote from: _Miracle on Today at 10:45:51 AM

INTJ-A

I always come out as that, too. I'd imagine we're quite over-represented on the Politics and Society board of a bitcoin forum.

I think scholars have mangled it as a concept when teaching it in class and that continually gets carried over into political/economic discussions, inserted into movies T.V. shows, books ect.

There are many observations made in the book and one of them is that a supply chain and/or market can move itself quite efficiently without outside regulations and controls.
Smith also observes areas where government interference is in play.
There is more observation than opining in the Wealth of Nations.

This is one those times when I feel lucky not to have been educated. Scholars who want to teach Wealth of Nations should at least read his Theory of Moral Sentiments and at least brush upon the changes that were happening on a global scale at the time (Age of Enlightenment).

Actually scholars who want to teach economic concepts (Hayek vs Keynes) should include social circumstance into the lessons as background.

And maybe bitcoin/Bitcoin is a perfect present day observation of a system at work---in its free and regulated state.

"u]I'd imagine we're quite over-represented on the Politics and Society[/u]"

Introverts unite---lol just kidding :-) I've wondered that about INTJ's and our interests, most of my friends are extroverts.

So... is there going to be a "Siberia Board" or what ?