The Visible Hand: Marketcrafting from AI to the Price of Money

Adam Smith introduced his concept of the "invisible hand" in the 18th century, offering a metaphor for how self-interest and competition guide a free-market economy. The case could be made that government policy is an increasingly crucial force in shaping markets today, particularly amid heightened geoeconomic competition and a resurgence in industrial policy. In this way, individuals and entities in both the private and public sectors can be "marketcrafters." PGIM's Daleep Singh is joined by Chris Hughes (Facebook co-founder, Chair of the Economic Security Project, and author of "Marketcrafters: The 100-Year Struggle to Shape the American Economy") for a discussion about government policy's role in driving markets and investment outcomes. They cover topics including: How the U.S. government has shaped markets through history Marketcrafting agendas that could address inflation and cost of living challenges An industrial policy framework targeting housing affordability and emerging solutions like modular homes The AI investment cycle and potential policy levers The Federal Reserve's influence on financial markets through its ample reserves regime