The Invisible Hand Meaning
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Erasing the Invisible Hand
Author: Warren J. Samuels
language: en
Publisher: Cambridge University Press
Release Date: 2011-09-12
This book examines the use, principally in economics, of the concept of the invisible hand, centering on Adam Smith. It interprets the concept as ideology, knowledge, and a linguistic phenomenon. It shows how the principal Chicago School interpretation misperceives and distorts what Smith believed on the economic role of government. The essays further show how Smith was silent as to his intended meaning, using the term to set minds at rest; how the claim that the invisible hand is the foundational concept of economics is repudiated by numerous leading economic theorists; that several dozen identities given the invisible hand renders the term ambiguous and inconclusive; that no such thing as an invisible hand exists; and that calling something an invisible hand adds nothing to knowledge. Finally, the essays show that the leading doctrines purporting to claim an invisible hand for the case for capitalism cannot invoke the term but that other nonnormative invisible hand processes are still useful tools.
The Essential Adam Smith
Gathers selections from Smith's economic writings, discusses his theories, and assesses their influence on modern economics.
The Invisible Hand in Virtual Worlds
Author: Matthew McCaffrey
language: en
Publisher: Cambridge University Press
Release Date: 2022-02-03
Studies the economic order that governs virtual worlds and ways individuals work together to govern social relations in the digital space.