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Erasing the Invisible Hand: Essays on an Elusive and Misused Concept in Economics [Mīkstie vāki]

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Assisted by , Assisted by (University of Wisconsin, Oshkosh), (Michigan State University)
  • Formāts: Paperback / softback, 358 pages, height x width x depth: 229x152x25 mm, weight: 530 g
  • Izdošanas datums: 14-Apr-2014
  • Izdevniecība: Cambridge University Press
  • ISBN-10: 1107613167
  • ISBN-13: 9781107613164
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Erasing the Invisible Hand: Essays on an Elusive and Misused Concept in EconomicsPalielināt
  • Formāts: Paperback / softback, 358 pages, height x width x depth: 229x152x25 mm, weight: 530 g
  • Izdošanas datums: 14-Apr-2014
  • Izdevniecība: Cambridge University Press
  • ISBN-10: 1107613167
  • ISBN-13: 9781107613164
Citas grāmatas par šo tēmu:
Permanent link: https://www.kriso.lv/db/9781107613164.html
Keywords:
"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"--

This book examines the use in economics of the concept of the invisible hand from Adam Smith.

Recenzijas

'An unbelievably comprehensive account of what economists have meant by the invisible hand. This book should disabuse anyone of the notion that the concept is either simple or unproblematic.' Roger E. Backhouse, University of Birmingham 'The invisible hand is the iconic image in the discourse about economics. But it may also be the most chameleon-like of all economics images. No term in economics has meant so much, so differently, to so many. And no one has taken on the enormous task of sorting out and analyzing these many invisible hands until now. Warren Samuels makes a seminal contribution to the literature by taking us on a thorough and richly thoughtful analysis of the many meanings of the invisible hand. No one has the breadth and depth of vision to do it better.' Jerry Evensky, Syracuse University 'Adam Smith's invisible hand has often been presented as a foundational concept in economics, and one that provides the basic welfare justification for free markets. In this valuable book, Warren Samuels subjects the invisible hand concept to sustained critical examination. His work explodes the myths surrounding the concept and displays the many ambiguities and lacunae to be found in the conventional treatments. This book is both a testament to the power of the invisible hand metaphor and a vital and long overdue corrective to its misuse in economics.' Malcolm Rutherford, University of Victoria, Canada 'Anyone who thinks we haven't learned much since Adam Smith should peruse this book, with its painstaking discussion of several hundred subsequent commentators, in the service of showing Smith to have been the author of a matrix of mutually supporting interpretations of market order inevitably within an institutional framework. The result, as the poet says: 'And the end of all our journeying/Will be to arrive where we started/And know the place for the first time'.' David Warsh, economicprincipals.com 'Warren Samuels has written an authoritative, detailed and mainly original contribution to scholarship, ably assisted by his collaborators, Marianne Johnston and William Perry.' Gavin Kennedy, EH.net

Papildus informācija

This book examines the use, principally in economics, of the concept of the invisible hand, centering on Adam Smith.
Acknowledgments xi
Preface xiii
1 Adam Smith's Invisible Hand and the Nobel Prize in Economic Sciences
1(37)
1.1 The Research Protocols of Economics, the Ironies That Result from Them, and Other Preliminaries
1(6)
1.2 Adam Smith and Some Nobel Prizes
7(3)
1.3 The Foundational Concept of Economics
10(3)
1.4 Exaggeration Criticized
13(3)
1.5 Some History of the Use of the Concept of the Invisible Hand
16(14)
1.6 Adam Smith's Three Known Uses
30(5)
1.7 The Fecundity of Smith's Analysis as Shown by E. K. Hunt
35(3)
2 The Political Economy of Adam Smith
38(21)
2.1 The Interpretation of Adam Smith
38(4)
2.2 Smith's Synoptic and Synthetic System
42(3)
2.3 Interdependence and Tensions
45(10)
2.4 Present Significance
55(4)
3 On the Identities and Functions of the Invisible Hand
59(24)
3.1 Introduction
59(1)
3.2 The Identities of the Invisible Hand
60(17)
3.3 The Functions of the Invisible Hand
77(5)
3.4 Conclusion
82(1)
4 Adam Smith's History of Astronomy Argument: How Broadly Does It Apply? And Where Do Propositions That Sooth the Imagination”r; Come From?
83(26)
4.1 Introduction: The Principles That Lead and Direct Philosophical Inquiries
83(5)
4.2 How Broadly Does Smith's Argument Apply?
88(4)
4.3 The Sources of Propositions That Soothe the Imagination
92(1)
4.4 The System of Belief and the Mythic System of Society
93(3)
4.5 The System of Belief
96(3)
4.6 Social Control as a Social Construction of Reality: The Struggle for Power and Control of the State
99(6)
4.7 Conclusion
105(4)
5 The Invisible Hand, Decision Making, and Working Things Out: Conceptual and Substantive Problems
109(26)
5.1 Introduction
109(5)
5.2 Smith's Multiple Paradigms
114(1)
5.3 The Enlightenment
114(3)
5.4 Naturalism
117(2)
5.5 Supernaturalism
119(2)
5.6 The Social Belief System
121(1)
5.7 Self-Interest
122(4)
5.8 Self-Interest Further Considered
126(6)
5.9 Infinite Expansion
132(3)
6 The Invisible Hand in an Uncertain World with an Uncertain Language
135(29)
6.1 Introduction
135(1)
6.2 Language in General: The Political Nature of Language
136(3)
6.3 Adam Smith and the Tradition He Started
139(3)
6.4 Language in General: Of Metaphors and Other Figures of Speech, Part 1
142(4)
6.5 On Metaphors in Economics
146(3)
6.6 Conclusions Up to This Point
149(2)
6.7 Language in General: Of Metaphors and Other Figures of Speech, Part 2
151(4)
6.8 Language in General: Of Metaphors and Other Figures of Speech, Part 3
155(9)
7 The Invisible Hand as Knowledge
164(15)
7.1 Introduction
164(1)
7.2 Ontology and the Status of the Invisible Hand
164(6)
7.3 The Epistemology of the Invisible Hand
170(9)
8 The Invisible Hand and the Economic Role of Government
179(68)
8.1 Introduction
179(1)
8.2 Laissez-faire
179(4)
8.3 The Misperception of Adam Smith on the Economic Role of Government: Freeing Smith from the Free Market”r; -- Prelude
183(7)
8.4 Smith's Legal-Economic Nexus
190(8)
8.5 Milton Friedman
198(2)
8.6 Friedrich Hayek and the Marketing of Capitalism as the Free Market
200(6)
8.7 Lionel Robbins's Approach to the Interpretation of Smith
206(6)
8.8 Institutions of Human Origin but Not of Human Design: Constructivism and Anticonstructivism, the Principle of Unintended and Unexpected Consequences, and Nondeliberative versus Deliberative Decision Making
212(4)
8.9 The Invisible Hand and Intellectual History: A Glimpse
216(2)
8.10 Adam Ferguson
218(3)
8.11 Ignorance, and Dispersed Knowledge
221(1)
8.12 Hayekian Spontaneous Order
222(3)
8.13 Hayek's Normative Position in Positivist Context
225(2)
8.14 The Rule of Law and the Capture and Use of Government in a World of Inequality
227(16)
8.15 Conclusion
243(4)
9 The Survival Requirement of Pareto Optimality
247(33)
9.1 Introduction
247(3)
9.2 The Survival Requirement of Pareto Optimality
250(2)
9.3 Some History of the Treatment and Disregard of the Survival Requirement in High Theory
252(11)
9.4 Adam Smith and the Survival Requirement
263(2)
9.5 The Ubiquity of the Survival Problem
265(11)
9.6 Conclusion
276(4)
10 Conclusions and Further Insights
280(17)
10.1 Conclusions
280(3)
10.2 Discretion over Continuity and Change
283(1)
10.3 The Argument and Its Meaning
284(3)
10.4 The Invisible Hand as Argument
287(2)
10.5 Invisible-Hand Thinking
289(1)
10.6 What Is Left of the Invisible Hand? Invisible-Hand Processes as Explanation
290(3)
10.7 Order, Power, and Nondeliberative Social Control
293(1)
10.8 Conclusion
294(3)
References 297(20)
Index 317
Warren J. Samuels is Professor Emeritus of Economics at Michigan State University, where he taught from 1968 to 1998. He previously served on the faculties of the University of Missouri, Georgia State University, and the University of Miami. One of the most prolific historians of economic thought, with cognate interests in the philosophy of economics, public finance, and law and economics, he has been president of the History of Economics Society and the Association for Social Economics. Professor Samuels was awarded the Kondratieff Medal by the Kondratieff Foundation of Moscow. He is the author of more than ten books and the editor of several dozen titles, as well as more than seventy volumes in the series Research in the History of Economic Thought and Methodology and Recent Economic Thought, as well as for the Journal of Economic Issues. He received his PhD from the University of Wisconsin. Marianne F. Johnson is Professor of Economics at the University of Wisconsin, Oshkosh. She is co-editor of the series Research in the History of Economic Thought and Methodology and has co-edited two multi-volume projects on early American economic thought. William H. Perry is a professional lexicographer with more than thirty years experience in constructing and searching large evidentiary and documentary research databases for special projects. For this work, Mr Perry constructed a database containing, in machine-readable format, all significant philosophical, religious, scientific, political, and economic primary and secondary sources from the beginnings of Western and Middle Eastern civilization until the end of the nineteenth century, searchable by concept.