Adam Smith's Invisible Hand.

Lots of confusion arise around what Adam Smith referred to as 'The Invisible Hand of The Market' Rothbard clarifies.

Clip from the audiobook version of Rothbard's epic 'Man, Economy, and State with Power and Market.' and is freely available from mises.org.

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[machwon]

@LeFrancification I'm picking my battles, he's a demagogue who's only interested about feeling food about his position, not about pragmatic solutions.

[LeFrancification]

@machwon Sounds more like you can't debate EndlessEndeavors1. Why not point out what's juvenile and myopic rather than say it is so as if you have an authority on the subject matter more than EndlessEndeavors1?

[machwon]

@EndlessEndeavors1

"The system is really nothing more than a pyramid scheme"

Yup.

Everything else you said is very juvenile and myopic, it's hardly worth addressing.

[EndlessEndeavors1]

@machwon The system is really nothing more than a pyramid scheme. You have the majority of people who are impoverished, in debt at the foundation & the very few at the top who are truly benefiting from the system. It's quite fitting that the pyramid is on the dollar... Also, most people don't really have a choice when it comes to loans, because money is required in order to participate. A loan is a gamble that your circumstances throughout the time of the loan will allow you to repay it

[EndlessEndeavors1]

@machwon cliché has nothing to do with "useless", it's an expression that is common or used often. The 'american dream' is nothing more than a scam to keep the wage slave in line. You tell people that one day they too can become wealthy, yet this is not logically possible in this system. If everyone had money, the money itself would be abundant and hence devalued. Most people must submit to massive amounts of debt just to participate and they spend the rest of their lives paying it.

[EndlessEndeavors1]

@machwon It's quite the opposite. Drug abuse, poverty, malnutrition, homelessness, depravity, social distortions, failed education, financial stress, neglected child care, and the like are shaped by peoples socioeconomic circumstances. It's statistically proven that not only do low income neighborhoods have lower quality schools, but the inhabitants often feel trapped in a cycle of poverty and oppression which most develops drug abuse and neurosis to cope with these experiences.

[machwon]

@EndlessEndeavors1 Most people who are homeless on the street are there because of mental illness or have drug abuse issues. Most "poor" people have apartments, pay bills and get food and clothing but can afford little else. People under the "poverty line" can even be better off than that.

If you take a loan, and you don't pay back that loan, it's mostly your fault and the government's fault for forcing banks to take your loan.

It's called a cliche because it's useless.

[EndlessEndeavors1]

@machwon Whether or not a person is living better than a king is hardly relevant to anything. The fact that people aren't living at the highest standard possible is the point. I also doubt that the homeless families living on the street are living better than kings. Poor people do get poorer because poor people are often forced to take high interest loans and submit to massive amounts of debt just to survive.

It's called the american dream because you have to be asleep to believe in it

[machwon]

@EndlessEndeavors1 That's not true. Poor almost never get poorer in states that have more liberalized markets. The poorest people today live better than kings 100 years ago. Poor people usually move to higher income brackets in later in life /watch?v=vDhcqua3_W8

Anti-caps are like creationists (in many respects other than this as well) because they don't actually see people moving around in income status, they assume it's static and want some kind of 'divine intervention' to make it better.

[EndlessEndeavors1]

@machwon The iron fist of inequality? The iron fist of structural classism to perpetuate one class over another? There's a reason why poor people tend to stay poor and rich people get richer and the 400 wealthiest Americans owns more than the 'lower' 150 million Americans put together. It's because capitalism is intrinsically flawed and corrupt, and these are the results and consequences. The fact a monopoly is the highest echelon one can reach within capitalism shows how corrupt it is.