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Visible and Invisible Hand in the Society

The last article I read that made me think was Donald J. Kochan’s “Black Tuesday and The Graying of the Legitimacy of Governmental Intervention: When Tomorrow is Just a Future Yesterday” at The Social Science Research Network Electronic Paper Collection.


Why did this article make me think? At page 3 the author states that people are more dependent on governments during the crises, and at page 11, „Crises blind the citizenry from rational deliberation“. Indeed, if one thinks of how people depend on each other and the surrounding society and that an average person is looking for strong guidance, positive paragons to rely on, especially during insecure times, the statements seem justified. But if one is aware of that, one knows that people can easily be manipulated. Parallelly to the danger that during insecure times people may support unwise policies (thinking irrationally), they may not think forward. From other side, Kochan characterizes the thinking of politicians as, „Never seen a crisis I didn’t like?“ and „[Y]ou never allow a serious crisis to go to waste … It is an opportunity to do big things“. Link to the article HTTP://PAPERS.SSRN.COM/SOL3/PAPERS.CFM?ABSTRACT_ID=1423981  


I also liked the use of the notion of „invisible hand“ in this article, because it reminded me that besides visible legal tools, a society greatly depends on invisible factors, most of which can never be defined and regulated. For how would you define or order in a society pain, insecurity, and can you prohibit decent (but purposeful) human sounds and moves that from a certain point may start determining your life and may eventually destroy you?

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