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November 16, 2011 | History

Erasing the invisible hand :b essays on an elusive and misused concept in economics /c Warren J. Samuels ; with the assistance of Marianne F. Johnson and William H. Perry 1 edition

Erasing the invisible hand :b essays on an elusive and misused concept ...
Warren J. Samuels

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Erasing the invisible hand :b essays on an elusive and misused concept in economics /c Warren J. Samuels ; with the assistance of Marianne F. Johnson and William H. Perry

Published 2011 by Cambridge University Press in Cambridge, New York .
Written in English.

About the Book

"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"--

Edition Notes

Includes bibliographical references (p. 297-315) and index.

Classifications

Dewey Decimal Class
330.12/2
Library of Congress
HB95 .S27 2011

The Physical Object

Pagination
xxviii, 329 p. ;
Number of pages
329

ID Numbers

Open Library
OL25101338M
ISBN 13
9780521517256
LC Control Number
2011002436

History Created November 16, 2011 · 1 revision Download catalog record: RDF / JSON

November 16, 2011 Created by LC Bot import new book