The invisible hand is crippled. What’s going on here? Wasn’t the invisible hand supposed to raise everyone into prosperity and well-being?
Yes – but it’s not. The world is getting phenomenally richer – but the costs of that wealth seem to be endemic poverty for vast swathes of the world’s population, the poisoning of the water we drink, the pollution of the air we breathe, and the fraying of the social and cultural fabric that binds us together.
We’re richer, but that wealth doesn’t reflect durable, authentic economic value – which is hitting fast diminishing returns. The growth that we’re pursuing is neither sustainable – nor is it, in many ways, real growth at all. Boardrooms from finance to autos to energy to pharma to fashion have learned that the hard way.
