- Nov 13, 2008
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I had a laugh this morning thinking about my old economics teachers. I remember them talking about capitalism and the free market and the invisible hand of adam smith... he must have been the first superhero. Anyway, I was reading on the ABC that the world is short of microchips and JBhifi wont have the latest tvs. The reason.... Production of high end microchips is basically limited to taiwan (just as my old professors would say was so beneficial) and that has meant that countries like Australia is once again a beggar with cap in hand.... The main problem being is that it isnt raining in taiwan and it needs millions of litres of water to clean the chips during production.
So the invisible hand is basically making our life more and more precarious... I can see a time when people will be waiting on a morning coffee delivered from china.
So the invisible hand is basically making our life more and more precarious... I can see a time when people will be waiting on a morning coffee delivered from china.