Invisible Hand, Spontaneous Order and Artificial Intelligence

Invisible hand, spontaneous order and artificial intelligence
By Aaron Olmos

Economic science has always had as object of study the human being, its social and production relations, as well as the present needs in its life cycle and ways to cover them with resources that are not necessarily abundant. Adam Smith in his work “Study of the nature and cause of the wealth of nations” speaks of an “invisible hand” that moves the market, guiding the economic forces to an inevitable meeting in order to find balances to maintain the social dynamics among human beings in their life cycles.

This vision shows us that as long as there is a need for a group of human beings, and there are means to cover them, then there will be goods and services markets willing to create “value” for those who organise these opposing forces and give meaning to the combination of land, labour, capital, technology and human talent, arranged in a way that maintains the historical circular flow of social strata with economic, political, cultural and religious differences in a “spontaneous order” in terms of the Austrian school of economics, which sometimes betrays the reason between the “should be of things” and “things as they are” create injustices in their wake that the ethics and morality of the XXI century seem not to see.

In this context, artificial intelligence with its computational neural networks that imitate the way human beings think and create, is demonstrating its power to “make visible” the hand of Adam Smith and to render null and void the “spontaneous” of the order of things. of the Austrian school at an economic, political and social level, with implications on the cultural and religious level of our societies, hence the ethical need as an essential component of this new intelligence.

Online Fintech leadership programme

Become a Fintech Leader with our NEW online Management and Leadership programme.