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Old 08-13-2019, 12:17 PM
Ravenman is online now
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Join Date: Jan 2003
Location: Washington, DC
Posts: 26,693
Funny, I have always heard the "invisible hand" as referring to the interchange of supply and demand that moves prices (or in reaction thereto), driven by the self-interest of massive amount of opposing parties with diametrically opposed interests (one wants as much as possible at the least cost possible, the other wanting to give as little as possible at the most cost possible) results in an equilibrum without having to establish a policy on prices.

This is not the same as "laissez-faire" in which government regulations are taken to be detrimental in the vast majority of cases.

Even the liberal economists who oppose rent control all agree that a price cap has an impact on supply, even though the same economists would strongly oppose laissez-faire.