Part 139 – The Invisible Hand

Hello! Today’s topic is on the Invisible Hand. I was meant to post this last week but it wasn’t completely finished so I’m posting it this week. (This post will kind of be in a research paper format, but this is my first time writing a research paper, so it won’t be the best paper.) Anyways, here it is! 

The Invisible Hand. 

 Similar to the name, the invisible hand is a metaphor for the unseen forces that move the free market economy or, the government. While it may be seen as interference, it actually is bringing order. The invisible hand is part of laissez-faire, meaning let us do it, approach to the market. Even though markets can succeed by themselves, they need to be nudged to work best. This nudge comes from none other than the Invisible Hand. Here’s an example: Let’s say a business was hiring. People would present themselves and say they would work for $10 an hour. Well, to get the job instead of that guy, another would say they would work for $8 an hour, and so on. Soon, the government steps in and says we shouldn’t be working for less. So, they put in a minimum wage. The minimum wage is the lowest amount a person can work for. It gives a limitation on how low wages can be, so people aren’t working for less, but for more. The Invisible Hand nudged people in the right direction so that they could work their best. Not only that, the Invisible Hand protects us, consumers, through acts and policies. For example, antitrust laws. Antitrust laws are developed by the government to protect consumers from predatory business practices and ensure fair competition. The practices include predatory acts to achieve and maintain a monopoly or price-fixing conspiracies. A common example is United States v. AT&T. Alexander Graham Bell invented the telephone in 1876, which started the foundation of the company that would soon become AT&T, American Telephone, and Telegraph. As the company began establishing a network of subsidiaries in the United States and Canada, it held a phone service monopoly. Since it was the only phone service, it could raise prices and sales freely. After all, what other company could they turn to if they disagreed with AT&T? In 1982, U.S. regulators broke up the company into 7 individual Bell companies. Now, not one, but multiple companies can compete with each other, bringing orders to the market. More examples of these acts and policies include the Equal Employment Opportunity ( EEO) or the Credit Card Protection (CCP). The EEO protects consumers/people from being discriminated against by race, color, religion, sex ( including pregnancy, transgender status, and sexual orientation), national origin, age, disability, or genetic info. This act applies to hiring, firing, promotions, harassment, training, wages, and benefits. So, consumers cannot be discriminated against during any work situation. Let’s use a real-world scenario to see how the Invisible Hand would protect consumers. Let’s say there is a gay couple, and they want to get their marriage certificate. Let’s say there’s only one person who can issue these marriage certificates or is the only one there. What would happen if they decide not to because gay marriage is against their religion? The EEO says that employees cannot be discriminated against by religion during any work situation, so what would happen? They would get fired for not doing their job. They are working for the government to issue these marriage certificates. They aren’t doing it, but are acting as the government. It is their job to do that. They can be fired because they are not doing their job. The Invisible Hand doesn’t just protect consumers. They also protect businesses through similar acts such as the Paycheck Protection Plan ( PPP) or T.A.R.P ( Troubled Asset Relief Program). The PPP is a loan designed to provide a “direct incentive for small businesses to keep their workers on the payroll.” Finally, the Invisible Hand helps make taxes fair and efficient. Consider the term, Equality Among Equals. The most favored tax system is the progressive tax. This system claims that higher salaries enable affluent people to pay higher taxes, and lessens the tax burden of the poor. How does this relate to Equality among Equals? Well, equals of the same salaries will pay equal tax. So, millionaires will pay the same tax as other millionaires and people with slightly less salaries will pay the same tax as people with the same salary range as them. The Invisible Hand truly is what brings the market to order. It is everywhere and helps everyone, both businesses, and consumers in similar yet different ways. I have to say, for my first research paper, it went pretty okay. The first time I tried it I stressed out and spent such a long time on it, but now, I had a slightly easier time. Anyway, see you in the next post. Bye!

Part 138 – My birthday

 Okay…I’m here. I know I didn’t post last week. Or the week before. But I’m here!  But anyway, I just wanted to share something really exciting happening. As you may have read by the title, my birthday is coming up. ( It’s tomorrow, lol.) Yes, I will be turning 13 tomorrow, and entering the teenager group. I will no longer be a 12 – year-old blogger but a 13-year-old blogger. So, since I am going to officially be a teenager, my parents- and I- did something really exciting. After such a long time, we finally painted my room. It is no longer the dull, common beige we all know, but now two shades of purple. 

There’s this really cool triangle design where we cut the wall diagonally and colored the top a lighter shade and the bottom a darker shade of purple. We did the same to another wall but cut it in the opposite direction so now it looks like a mountain. We also added these really cute mountain climber decals so it looks like they’re climbing the mountain. Apart from that, I also got a new bed which is smaller and creates more space in the room, as well as an “egg chair”.

Another perk about turning 13 for me is getting my first social media. To be honest, I have very little interest in being active online or even having social media. However, I do want Twitter mainly for any political updates. It just feels different when you get to find out yourself what people say instead of from your parents, you know? Aside from Twitter, I’m hoping to get Instagram. It’s not too big or that popular- which suits me just fine- and will work well. I only really wanted Instagram because I wanted some other app to try besides Twitter. My first idea, Insta. 

Last year we weren’t able to do anything with friends due to lockdown, but this year I and my 3 close friends had a sleepover last night. I think it was one of my favorite sleepovers because it wasn’t too chaotic, we all were really close with each other, and we were a small group. Of course, we stayed up until like 12:30 in the morning and acted like crackheads, but otherwise, we weren’t that crazy. A night filled with painting saucer plant pots, building our own mini pizzas, music video, and song shares, and a late-night movie with ice cream followed by a morning of giggles, waffles with raspberries, and gifts is something I will never forget. 🙂

Lastly, I wanted to list out what I’ve done while I was 12. It’s like a tradition where I record a video talking bout what I did at that age the night before my birthday. I haven’t really thought it out but I wanted to list it out now.

  • I did DI this year virtually and placed 4th
  • Coronavirus Log series: 138 parts
  • Live election Blogging for 2020 elections- 35 posts
  • I started 2 new stories- Missing piece and When Can I See You Again- and wrote the most I ever have on them
  • I started following a new musical artist: BTS
  • I started practicing for my SAT’s
  • I’m doing much better in Marathi, and I have started being independent in taking care of and managing my work
  • I finally reached and completed Level J for both math and reading for Kumon ( Something I have wanted to achieve for so long)
  • I started reading Economics 
  • Experienced a slice of real-life: Bourbon Street ( I’m sure all of you know my thoughts on that. If not, here is the link to my “New Orleans Trip” post.)
  • Had a successful plant garden and harvest, and have started another one this year
Now that I think of it, I haven’t achieved/done as much as I usually do. A lot of these are just new things that I’ve done. Not accomplishments. It may be because of COVID, but I definitely aim to achieve a lot more when I become a 13-year-old.