From: Ben To: Walter Block <[email protected]> Subject: Thoughts on the invisible hand Hi Walter, Thanks for your nice piece on the invisible hand: https://walterblock.substack.com/p/seeing-the-invisible-hand As I understand it, the phenomenon described by the term invisible hand arises most fundamentally from the fact that all (or most) economic exchanges in the society are voluntary. Because every transaction brings with it a mutual increase in value to the participants (as defined subjectively, in terms of revealed preference), it follows almost (or perhaps even actually?) tautologically that the universalization of transaction-level mutual betterment translates into society-wide betterment. The only question I have here … Continue reading The Synthetic Apriori, Market Failure, External Diseconomies