History did not fulfill Adam Smith’s idea of the invisible hand analogy. Companies big and small closed doors and laid off thousands of workers while the owners were filing for bankruptcy protection in a way that the invisible hand appeared to be paralyzed.
Also, John Maynard Keynes’s notion of free market, was proven to be not free at all. Otherwise Keynesianism theories would solve the problems that the previous historical simulations left unsolved, where the government was compelled to interfere.
What happened then has prompted the industrial nations to dump the Keynesianism theories and adopt a new market belief, called mixed economy.
I believe both economics pioneers’ theories are incomplete. And that there is a need for a profound understanding of the microeconomic and macroeconomic theories in relation to the global market direction and performance which I explain in this book, in a simple easy way to comprehend.
Dr. Luigi Pavone
DBA & PhD. in Marketing