this post was submitted on 15 Oct 2023
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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.