Fully unregulated market economy and the invisible hand

Total Posts:  4
Joined  29-08-2011
29 August 2011 19:18

How is a fully unregulated market economy sound economic policy that is driven by facts obtained through trial and error when there has never existed one outside of academia and libertarian policy journals. Somalia is brought up to disparage libertarians but even it has a market driven by Islamic extremists who ostensibly are in control of it by killing people for selling televisions, alcohol and denying aid to those who do not want to live under some caliphate. Can you give an example of where this invisible hand i.e. a fully unregulated market economy has existed?

These sort of utopias on the right just seem no different from a fully classless and stateless society that communism promises or a heaven after death that the Abrahamic religions promise. I’m a political and economic pluralist and I know that the only way forward is to have an open society with a big table for everyone to have a say at. With enough hands and heads at work we may hopefully muddle towards progress rather than fumble and regress, well, at least most of the time. Isn’t that the rational, albeit messy reality of the human institution of democracy?  If that is democracy, what the hell is libertarianism?

[ Edited: 29 August 2011 19:21 by Rakista]
Total Posts:  379
Joined  05-06-2005
31 August 2011 12:14

Depends on who you ask.


When i took the quiz in ‘98 i came out left libertarian, which, i’ve since observed, means i’m technically a green party supporter.  No way i’m wasting my vote on them until we abolish the two party, winner-take-all b*s* election system we currently suffer, so i’m stuck voting democratic for the time being.

The problem is that the libertarian party, like the republican party, has been hijacked by the tea-bagger idiots.  There’s a racist strain running through it now that’s impossible to ignore.  And it seems these days that anyone who doesn’t confuse ambition and a love of liberty with naked bloody anarchic greed is unwelcome in the libertarian party.

Brian Macker
Brian Macker
Total Posts:  37
Joined  28-08-2011
05 September 2011 12:19

“Can you give an example of where this invisible hand i.e. a fully unregulated market economy has existed?”

Buzzzzzz.  Wrong question.  The invisible hand doesn’t refer to a fully unregulated market economy.  Thanks for playing Jeopardy.