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