I think on some level we are all familiar with Adam Smith’s concept of the "Invisible Hand;" the metaphor used to describe the self-regulating behavior of the market place. Essentially, he argues that economies are structures that exist as a result of, but also independent from, the behavior of the individuals that comprise it. The sum total of an economy, Smith surmises, is our independent financial decisions interacting with one another to produce a market force or event (ie: supply and demand or dare I say it, the “Great Recession”). But … [Read more...]
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