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Erasing the Invisible Hand

Name: Erasing the Invisible Hand
Brand: Cambridge University Press
SKU: 04372653
Price: 60483 HUF
Availability: InStock
Author: Warren J Samuels
ISBN: 9780521517256

Warren J Samuels

Language

English

Book Hardback

Libristo code: 04372653

Publishers Cambridge University Press, September 2011

This book examines the use, principally in economics, of the concept of the invisible hand, centerin... Full description

Libristo code: 04372653

403 b

60 483 Ft

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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 non-normative invisible hand processes are still useful tools.