Tag Archives: Morality

The Morality of the Invisible Hand

There is a story that a high-level Russian official visited America during the Reagan presidency and was shown the abundance of goods in American stores. He was astonished at the bountiful display and how it compared to the meager offerings in his home country.

“Who planned all this production?” he asked.

“Nobody,” his hosts replied. “People just decide for themselves what they want to produce and sell.”

He thought they must be concealing something. “No, seriously. Tell me: what authority is behind all this?”

“We assure you, this did not come from a central plan. People are free to go into business as they like and produce what they want, and what you see on the shelves is the result.”

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