By Erin C.
Saturday, January 5, 2019
(NEW FRONTIER NEWS)- In Anarcho-Capitalist and Minarchist groups, a longtime argument made is that the ‘Invisible Hand’ Theory can be a viable replacement for democracy. In this article, I’m going to contest that idea.
The Invisible Hand Theory is based on the idea that societies can govern themselves without a central government, by essentially using the market to cast economic votes.
For example, if someone disapproves of a Company A using child labor, and Company B doesn’t use child labor, the person will obviously go to Company B, and if the person doesn’t, then it apparently wasn’t much of an issue to them.
However, this idea neglects to point out one thing. Most people don’t care, because they don’t know.
So they ’ll still buy from Company A because of the decreased labor value, the cost of goods is cheaper.
Put simply, the issue with the invisible hand theory is that everyone has to buy things, even the uneducated and oblivious.
The saving grace of democracy is that you don’t have to vote, and most people don’t, which brings me to my next point.
Voter apathy, while shown in a mostly negative light, actually promotes a fair democracy. People are simply more likely to not be educated on a large majority of social issues.
The fact is, if everyone voted, elections wouldn’t be fair or democratic. As evidenced in people’s disapproval of child labor, but their approval of buying things from companies such as Apple or Nestle.
Most people don’t bother to do research on these subjects, so if everyone voted, most people wouldn’t take the time to analyze too deeply who they’re voting for, or, more importantly, since most Americans are centrist, who they identify as politically.
When this chunk of people who don’t know these issues very well don’t vote, it clears the air of democracy a bit and allows elections to be more democratic.