> ... through contrivance he can impose.. diseconornies on other[s]..bargaining within the new market.. will... make him better off. The more significant the social cost imposed upon his neighbor, the greater will be his reward... It follows from the orthodox assumption of #MaximizingMan that each man will create a maximum of #SocialCosts which he can impose on others. D'Arge and I have labeled this process "the invisible foot" of the laissez faire ... market place.
https://znetwork.org/wp-content/uploads/zbooks/www/books/3/3.htm#3.2.1
#InvisibleFoot #LaissesFaire #EKHunt #AlbertHahnel
Chapter 3 - externalities and Public Goods

criticism of the traditional treatment of externalities and public goods and the exciting literature on

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> The more significant the social cost imposed upon his neighbor, the greater will be his reward in... the orthodox assumption of #MaximizingMan that each man will create a maximum of social costs which he can impose on others... this process [is] "the invisible foot" of the #LaissezFaire ... market place. The "#InvisibleFoot" ensures us that in a #FreeMarket ... economy each person.. will.. do his part in maximizing the general public misery...
https://znetwork.org/wp-content/uploads/zbooks/www/books/3/3.htm#3.2.1
#EKHunt
Chapter 3 - externalities and Public Goods

criticism of the traditional treatment of externalities and public goods and the exciting literature on