The Invisible Hands in the Market Economy: Between State Intervention and Freedom of Activity

They say that the "invisible hands" that operate in a market economy are spontaneous behaviors of individuals and institutions among producers and consumers who exchange goods and services according to their personal interests, but these invisible hands work to balance economic markets, and thus these behaviors in pursuing private interests culminate in a balancing factor that is positive and in favor of the public interest.!! They are tendencies, not organized mechanisms prescribed from outside these markets. Producers offer their goods and services in the amounts demanded by consumers in all their components, at prices governed by competing market factors voluntarily...!!
And it has been said along the same lines "let it work, let it go"...in a call not to interfere with these competing forces in the market...for they know their interest...which ultimately leads to the public interest and public good...!!. Unless the government and the public sector intervene in the market equilibrium, which these liberal capitalist theories warned against. Rather, they demanded that the public sector relinquish many of its public responsibilities to the market economy through mechanisms such as privatization and others...which proponents of these theories call for, asserting that the private sector is capable and fully able to bring about the public good through its dealings in a free market...thus said "Adam Smith," the famous economist in 1776 in his book "The Wealth of Nations," about the invisible hands!!...although he also said in another description of market forces: "We do not expect to get our dinner from the benevolence of the butcher, the brewer, or the baker, but from their regard to their own interest"!!

Yes..it is their private interest, but certainly—and based on all experiences, observations, and opinions—this private interest of market forces falls into negatives and selfishness that undermine the course of the public interest...indeed, these forces fail to achieve the public interest of the country. Marked-up prices and the monopolies that arise in a market economy are negative phenomena that impair the health of the general economy and seize its resources in these forces' pursuit of profit...and control...which leads to an expansion of poverty...and injustice in the distribution of wealth...and to corruption. Often these forces resort to offering products unfit for human consumption in order to achieve profits at the expense of public health...in addition to polluting the environment in some of the outputs of certain markets...and evading or manipulating tax payments to conceal the true figures of these forces' profits...as well as smuggling and creating black markets...for their private interest—phenomena that accompany these invisible hands...!!

In truth, there is no country in the world that does not intervene, even to varying degrees, in a market economy. The United States of America, the mother of capitalism and the market economy, enacted laws and regulations a long time ago that stipulate intervention and punishment of forces of monopoly and market control...so that these forces, once they form in many ways including mergers, monopolize and thus exit the matter of fair competition. Such competition works for the public good in improving products and the level of services at fair prices..

It also punishes market forces if they violate the rules and laws governing, for example, their marketing campaigns, by publishing advertising for a product of one of the market forces and describing that product as perfect and of multiple merits despite the lack of truth in that after testing and verifying the quality according to the state's general standards. Failure to adhere to production standards and correct specifications is punishable—this is an intervention by the state to protect citizens and safeguard workplace health according to market rules...correctly and in a way that serves society....

Market forces, in their pursuit of their interests and increasing their profits, place their private interest above the interest of society and the state. For example, they reduce production costs and one of the means is to cut the number of workers, which will create new numbers of unemployed people...and thus harm the public interest..!! Even when the state intervenes, for example by setting a minimum wage, these market forces tend to resist such a public action by the state—by not hiring new workers under a policy of minimum wages—or they will assign the current workforce additional working hours instead of hiring new employees and adhering to the minimum wage. These forces that were said to, by pursuing their private interest, benefit the public interest...and in truth, if given full freedom, they pay little notice to the public interest in light of their private interests...they are priorities....For example, these forces' production of weapons creates conflicts and entangles the public interest in disasters as a result of these forces' pursuit of their interest to achieve enormous profits while destroying societies including their own society. These forces call for privatizing public functions and public goods such as health, education, and defense...which, if entrusted to them, would leave society far from justice and act to widen the gap between rich and poor...
These forces prefer and pursue in their research and technologies the use of robots and automated tools to reduce costs and increase their profits...a robot has no end-of-service compensation...and consequently...the public interest loses out from that...through the displacement of human labor and the creation of additional unemployment."

Also, in other cases such as selling weapons to citizens in capitalist countries like the United States of America, market forces and their private interest dictate selling large quantities of individual weapons and seek to market them and attempt to pressure governments not to pass laws limiting weapon carrying, trying by all their influence and lobbying groups they create to keep the wheel of production and sale turning to achieve huge profits, while some individuals, due to carrying or possessing weapons, commit murder and take lives.!!..Isn't this conflict between the private interest of market forces and the public interest of society clear. !!

The claim that invisible hands are hands that bring public benefit in their pursuit of private interests has proven to fail in some cases.....So how then, when some market forces realize that their presence in their country as a whole, and through their pursuit of private interest to achieve enormous profits at low cost and higher returns, they move their capital, factories, and assets across borders...abroad to operate in another market and in another, more promising country. Is there any benefit to the public interest in that...!! And does the exit of the investor from his national market to a foreign market that is more profitable for him personally—and the acquisition by that investor of the nationality of the new market country—serve the public good of the investor’s original country....And can the original country prevent imposing restrictions on this investor given the need to grant freedom to market forces and not to have public authorities interfere..so as not to destroy the balanced fabric in which the invisible hands work for the public good.!!

How can tuition fees in the private education market be high and expensive...where private education market forces raise tuition fees significantly because their private interest dictates that...to accumulate profits...but that is not in the public interest..

There are many cases and examples...in which some market forces and their invisible hands are indifferent to the public good if they achieve their private interests!!

We do not call for abolishing the market economy in our small countries, but we demand organizing state intervention in this market through laws, regulations, and rules that regulate market work for the public interest that has no representative in the work of market forces which operate for their own interest, and thus such laws and regulations will act as a representative of the public in the market. Raising prices of some products unfairly shows no real concern for the public interest...especially when some goods and services have low price elasticity of demand due to their necessity in life for society, so the citizen is forced to buy them no matter how much the price changes upward!! It is fair that the state intervene with one of its tools such as taxation, legislation, law enforcement, or public spending..and impose tax rates that address market ailments..!!

Prices in some of our markets where market forces operate drain the pockets of consuming citizens...especially for goods and services for which escaping the temptation to buy is limited due to their necessity....There are many examples of inflated prices of real estate and buildings...and rentals...and car prices...and fuel prices, and these are, for example, in a society where more than half a million are unemployed.....Why do the prices we see in the markets operate according to complex math so that profit margins are high...Why do we maintain monopolies over transport lines and means for decades...and do not subject them to competition and optimal service performance, why do some market forces hold the privilege of importing certain goods and monopolize these features in their group and pressure the state to enact laws that prevent others from importing similar or substitute goods.!!

Why do the fathers now monopolize the agencies, the exclusive ones... and the sons and grandchildren come to submit to an exploitative mindset that took place in the time of their corrupt fathers and grandfathers!!.. They are protected obstacles preventing the components of society from working freely and creatively.....
The state bears full responsibility not to side with the story of the so-called benevolent hidden hands...in its absolute form..and the state must not stand with its responsible hands tied before the influence of these hidden hands..while poverty increases and wealth accumulates in society...This is a missing justice...the state must reorder its papers and tasks to change the rules of the market and to preserve the proverbial "hair of Muawiyah"..!!