The invisible hand — you can’t see it because it was never there

Short story of why capitalism isn’t a way to go

I will be frank — capitalism doesn’t work. How many more banks need to fail (hi SVB and Signature) for us to understand that? How many more lives and species disappearing off the face of this planet will it take?

And before you jump at me, yes, I am an Economist with a Bachelor’s degree in International Economics and a Master’s in Management from a respected European university. I chose to work in tech industry simply because world economics are depressing.

Soooo… the invisible hand of the market. Adam Smith and his glorious An Inquiry Into the Nature and Causes of the Wealth of Nations. A book from 1776 that made some people ridiculously rich and, at the same time, was an excuse to destroy societies and waste natural resources.

A free market is a concept, and I know some of you are willing to die for it, but it is deeply flawed. There is no free market anywhere in the world. I guess the USA is the closest, but if it was a truly free market, all the people who had deposits in banks that failed would get nothing (they are guaranteed up to 250k dollars now) because there would be no regulation. Also, the healthcare… but let’s not get into this now.

Once you accept that there is no real free market, there never was, and there never will be (I know it’s hard for some of you, but it’s time to grow up and face the truth), you…