Re:A vigilante trying to improve IoT security
by jasonm23 on Wednesday April 26, 2017 @08:13PM
(#14208162)
> Smiths invisible and myopic hand
I'm intrigued by this phrase, could you explain it please?
Re:A vigilante trying to improve IoT security
by wtracy on Wednesday April 26, 2017 @11:02PM
(#14208861)
https://en.m.wikipedia.org/wiki/Invisible_hand
Adam Smith used the phrase "invisible hand" to describe the way markets reward certain business ventures. The previous poster called the invisible hand "myopic" in reference to consumers being focused on cheap devices with features that immediately benefit themselves.
In this, like most things, you need a balance. If you aren't commercially driven in some fundamental way you probably won't last long enough for any of this to make a difference.
Of course if you apply that the wrong way, you end up with devices that suck and/or harm users. This way leads to regulation typically, since Smiths invisible and myopic hand usually acts too slowly for people to be convinced it will get to the right place, if we just wait long enough.