The Invisible Hand and the Market cover art

The Invisible Hand and the Market

The Invisible Hand and the Market

Listen for free

View show details

About this listen

 This episode explores how markets function as sophisticated coordination mechanisms through the interplay of supply and demand. Lorenzo Vale examines Adam Smith's "invisible hand" concept and how decentralized decision-making efficiently allocates resources without central planning. The episode delves into market dynamics, price signals, psychological factors that drive market behavior, and common market failures like externalities and monopolies. Lorenzo analyzes historical bubbles from tulip mania to the housing crisis, discusses behavioral economics' insights into market irrationality, and explores how market design can enhance outcomes. The episode concludes by recognizing markets as powerful but imperfect social technologies that reflect cultural values and power relationships rather than natural phenomena.

Click here to browse handpicked Amazon finds inspired by this podcast series!
https://amzn.to/424pzou

https://www.quietperiodplease.com/

What listeners say about The Invisible Hand and the Market

Average Customer Ratings

Reviews - Please select the tabs below to change the source of reviews.

Audible.com.au reviews

Amazon Reviews
No Reviews are Available
In the spirit of reconciliation, Audible acknowledges the Traditional Custodians of country throughout Australia and their connections to land, sea and community. We pay our respect to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander peoples today.