Friedman argued politicians’ rational self-interest systematically harms consumers, the poor, and the uneducated.

Evidence

Friedman frequently referred to this insight as the “invisible hand in politics,” which he defi ned on the bicentennial of The Wealth of Nations as “the precise reverse of the invisible hand in the market”: politicians seeking to promote the public interest are “led by an invisible hand to promote an end which was no part of their intention.” As a result, they sacrifi ce “the public interest to the special interest, the interest of the consumers to that of producers, of the masses who never go to college to that of those who attend college, of the poor workingclass saddled with employment taxes to the middle class who get disproportionate benefi ts from social security, and so down the line.” — Angus Burgin, The Great Persuasion, 481

Categorization

• DEFINE: Defines Friedman’s coinage ‘the invisible hand in politics’ as the deliberate reversal of Smith’s market invisible hand.
• XREF: Connects to general reader interest in Mont Pelerin ideas — this is the core anti-political core of neoliberal doctrine, opposite of the Adam Smith market metaphor. — connects to: Friedman claimed government intervention harmed even the groups the Right usually blames for benefiting. — Angus Burgin, The Great Persuasion: Reinventing Free…, 482; Public choice theory depicted democratic politics as systematically harming the public interest. — Angus Burgin, The Great Persuasion: Reinventing Free…, 481; Individual rational self-interest can systematically produce collective disaster.

Broader Connections

• Public choice theory depicted democratic politics as systematically harming the public interest. #corroborates (0.90) — Angus Burgin, The Great Persuasion, 481
• Friedman claimed government intervention harmed even the groups the Right usually blames for benefiting. #expands (0.85) — Angus Burgin, The Great Persuasion, 482
• Individual rational self-interest can systematically produce collective disaster. #qualifies (0.75)