this post was submitted on 15 Oct 2023
3 points (50.6% liked)
Asklemmy
44183 readers
1765 users here now
A loosely moderated place to ask open-ended questions
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- !lemmy411@lemmy.ca: a community for finding communities
~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
What is this “invisible hand” thing people keep referring to?
It's a term used by one of the big economic thinkers associated with capitalism, or a version of it. It basically means the markets 'correct' themselves, merely by existing. It can be summed up as the collective actions of consumers and sellers setting prices for products/goods/services, rather than those same things being dictated by fiat.