Sự thật không thể chối bỏ

là 'bàn tay vô hình' đã thúc đẩy mức sống của cơ man không biết bao nhiêu con người,

thất bại thị trường là số ít so với/bị tràn ngập bởi thành công thị trường...
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trích dẫn hôm nay… is from page 277 of the Introduction to Book II of the 1981 Liberty Fund edition of Adam Smith’s 1776 An Inquiry Into the Nature and Causes of the Wealth of Nations:

The person who employs his stock in maintaining labour, necessarily wishes to employ it in such a manner as to produce as great a quantity of work as possible. He endeavours (cố gắng, nỗ lực, gắng sức), therefore, both to make among his workmen (công nhân, người thợ, người lao động) the most proper distribution of employment (phân bổ lao động đúng đắn nhất), and to furnish them with the best machines which he can either invent or afford to purchase.

DBx: Smith here observes that businesspeople (doanh nhân) using their own funds (tiền của chính mình) (and funds voluntarily entrusted (tự nguyện giao phó) to them) seek to produce for the market as much output as possible by employing what we today call “optimal” (tối ưu) amounts, and kinds, of capital goods and labor. And in seeking maximum possible profit in this way, businesspeople are led as if by an invisible hand (bàn tay vô hình) to promote the welfare of countless other human beings, nearly all of whom are strangers to businesspeople and to each other.

Since Smith first published these words 244 years ago, a great deal of economists’ attentions has been devoted to obtaining a better understanding of just how this market process works and what are the institutional arrangements that promote its working or stifle  (bóp nghẹt; đàn áp, kiềm chế; làm ngột ngạt, khó thở) its working.

It is, by now, easy to rattle off reasons why free markets fail to reach “perfection.” It’s done frequently by sophomores (sinh viên năm hai) and pundits (chuyên gia dởm). But it is also impossible – at least for the historically informed – to deny (chối bỏ rằng) that market failures (thất bại thị trường) in reality are swamped (tràn ngập) by market successes. The standard of living of ordinary people in the modern world testifies (chứng tỏ, biểu lộ, chứng thực, chứng nhận) to this truth (sự thật này).

What no one has done is to offer a compelling reason (lý do thuyết phục) to believe that substituting (thay thế) government direction (chỉ đạo của chính phủ) of economic activity (hoạt động kinh tế) for market direction of this activity will generally outperform (vượt trội hơn) markets. The only truly serious attempt (nỗ lực cực kỳ nghiêm túc) to offer such a reason is found in the work of the so-called “market socialists” of the first half of the 20th century. That effort failed (thất bại).

Tags: economics

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