ZEIT Forum Kultur: ›Invisible Hand‹ – Wer regiert die Welt?


  • © Michael Kneffel
    (c) Michael Kneffel

According to Adam Smith, one of the founding fathers of modern economy, an invisible hand guides the selfishness of individuals to the benefit of the community as a whole. Under freely competitive conditions productivity rises while prices decrease and room is made for something new; both economy and wealth grow. But the world financial crisis has revealed the destructive forces of an anonymous market that have destroyed fortunes and driven states to the abyss. Buyers and sellers are invisible to one another when computers are in control. At best, only those who invented derivatives know exactly what they contain, and the wheel turns faster and faster. The nation states, in contrast, are quite visible. The EU has amassed billions of Euros in debt. In the name of ›real estate ownership for all,‹ the US government has guaranteed billions of mortgages, thus freeing the banks from risk and keeping them from taking responsibility. The bubble expanded until it burst, and the results are still with us today. Greed and excess on the one hand, irresponsible amassing of debt on the other hand: how can we avoid the trap, now and in future? How ›visible‹ should the hand of the state be, how strong are the ethics of banks and hedge funds? How can Adam Smith’s ›invisible hand‹ combine self-interest and the general welfare in the digital world?


— 8. September
— 1h 30 min
— 15 €
Reduced prices start at 7,50 €
  • Sun 8Sep
    ZEIT Forum Kultur: ›Invisible Hand‹ – Wer regiert die Welt? on 8. September 2013 at 11.00 AM