Free Market
The Free Market cluster focuses on relationships between the free market, the operation of the Invisible Hand, and the fallacy of composition.
- Invisible Hand. Specific conditions support automatic adjustments in marketplace.
- Design without Designer. Goods and services produced match with goods and services desired.
- Fallacy of Composition. While the Invisible Hand adjusts the market, individual desires often plan under the original market conditions.
- Good for One. When each person does what’s best for them, the net result can be worse for each.
- The Invisible Hand’s Scar. Selfish individuals and corporations violate free market conditions to game the situation
Image of stock market trading before electronic trading. Thomas J. O’Halloran, photographer, Public domain, via Wikimedia Commons
