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Most Invisible Hand models sketch that if each consumer is allowed to choose freely what to buy and each producer is allowed to choose freely what to sell and h
by spacebanana7 5y ago
Most Invisible Hand models sketch that if each consumer is allowed to choose freely what to buy and each producer is allowed to choose freely what to sell and how to produce it, the market will settle on a product distribution and prices that are beneficial to all the individual members of a community, and hence to the community as a whole.
In Russian-style cronyism, the freedom of producers in particular was corrupted by the need to pay heed to everyone with political muscle. No sensible producer who valued personal safety would compete with the mining company of an oligarch in a development, for example.