Notwithstanding anything you say, we’re still running out of oil and need a replacement for the whole energy paradigm. The invisible hand is NOT causing peak oil the invisible hand is the marketplace reacting to the peak and moving to alternatives.

ALSO, The invisible hand of the market has a purpose expressed in Say’s Law, “All markets clear at a price.”

Evolution doesn’t have an invisible hand because evolution has no goal. It just happens with no rhyme or reason.

BTW, people call the USD a fiat currency but that’s not quite true. The dollar is backed by the full faith and credit of the US Government which has taxation authority over 330+ million people. It thus has the ability to control the dollar’s value. The value of this “fiat” currency isn’t backed by precious metal but neither is it backed with the whims of a king. That would be a true fiat currency.

Researcher, author of multiple books including “The Age of Sustainability” about solutions for climate change. Technology, business, economics.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store