Monthly Archive for July, 2015

Lessons from Scrooge!

An excellent presentation on money! Make full screen to read!

Help … the invisible hand has disappeared!

Where is this supposed invisible hand gone? Did it ever exist?

 

The invisible hand is a term coined by economist Adam Smith in his 1776 book “An Inquiry into the Nature and Causes of the Wealth of Nations”. In his book he states:

“Every individual necessarily labours to render the annual revenue of the society as great as he can. He generally neither intends to promote the public interest, nor knows how much he is promoting it … He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. Nor is it always the worse for society that it was no part of his intention. By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the public good.”

Supposedly, this invisible hand will miraculously turn business which is based on self-interest into some public good.  What has happened to our free market system in which this hand seems to have diasppeared?  What happened to the economists and politicians in Greece some years ago when cooking the books in order to get into the eurozone?  What happened to our bankers who used our money to speculate using systems they didn’t understand and lose noinvisible-handt only our money but our trust? What happened to our major corporations who use people in order to improve share prices?

Where has it gone? I believe that this is Gods Spirit. We are all made in th image of God and it is only the presence of the Spirit of God on this earth which prevent us all from descending into complete disaster. God never has to punish us. He only has to leave us alone and we can do that job quite nicely.   We need to rediscover the role of Gods Spirit in turning self-interest into public good.  Only God can do that …! Continue reading ‘Help … the invisible hand has disappeared!’