> .. each man will soon discover that through contrivance he can impose external diseconomies on other men, knowing that the bargaining within the new market that will be established will surely make him better off. The more significant the social cost imposed upon his neighbor, the greater will be his reward in the bargaining process.. D'Arge and I have labeled this process "the invisible foot" of the laissez faire .. market place.
https://zcomm.org/wp-content/uploads/zbooks/www/books/3/3.htm#3.2.1
#EKHunt #InvisibleFoot #LaisessFaire
#LaisessFaire #InvisibleFoot #EKHunt