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Sounds like half-reading Adam Smith but OK





Please expand.

Well it's true that simply participating in the market helps to create value, viz the famous quote about it ot being from the good will of the butcher and baker that we enjoy our meal, but from their acting in their own self-interest. But Smith also mulls the need for regulation (due to market participants' habit of rigging markets to suit producers over consumers) and the downsides of pursuing pure efficiency (eg after praising the gains that come from the division of labor at a pin factory, he goes on to point out that getting people to do the same job over and over all day isn't good for them over the long term).

Smith was a very thoughtful economist but people have a bad habit of cherry-picking his work to suit their own needs while ignoring the bits that would constrain them.




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