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This is where the fine print in economics comes in, things will eventually be balanced by the invisible hand but that's only in the long-term. In the short-ter
by iaw 6y ago
This is where the fine print in economics comes in, things will eventually be balanced by the invisible hand but that's only in the long-term. In the short-term an untold amount of human suffering can occur.
Economics doesn't solve for reduced human misery. To avoid this we would have needed adequate central plans for this event (or rather, a set of people that decided to fund the plans we did have).
- rwmurrayVT 6y agoThat is a massive hole that is often looked over by many. Oh, the market will take care of it. When? After we're all dying from pollution or missing fingers from faulty equipment? How can you in good faith believe the market will take care of everything?