The Hand Behind The Invisible Hand

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The Hand Behind the Invisible Hand

Author : Mittermaier, Karl
Publisher : Bristol University Press
ISBN 13 : 1529209099
Total Pages : 278 pages
Book Rating : 4.5/5 (292 download)

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Book Synopsis The Hand Behind the Invisible Hand by : Mittermaier, Karl

Download or read book The Hand Behind the Invisible Hand written by Mittermaier, Karl and published by Bristol University Press. This book was released on 2020-07-22 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available Open Access under CC-BY-NC-ND Made famous by the Enlightenment thinker Adam Smith, the concept of an ‘invisible hand’ might be taken to imply that a government that governs least governs the best, from the viewpoint of society. Here an invisible hand appears to represent unfettered market forces. Drawing from this much-contested notion, Mittermaier indicates why such a view represents only one side of the story and distinguishes between what he calls pragmatic and dogmatic free marketeers. Published posthumously, with new contributions by Daniel Klein, Rod O’Donnell and Christopher Torr, this book outlines Mittermaier’s main thesis and his relevance for ongoing debates within economics, politics, sociology and philosophy.

Beyond the Invisible Hand

Author : Kaushik Basu
Publisher : Princeton University Press
ISBN 13 : 1400836271
Total Pages : 292 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Beyond the Invisible Hand by : Kaushik Basu

Download or read book Beyond the Invisible Hand written by Kaushik Basu and published by Princeton University Press. This book was released on 2010-10-25 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why economics needs to focus on fairness and not just efficiency One of the central tenets of mainstream economics is Adam Smith's proposition that, given certain conditions, self-interested behavior by individuals leads them to the social good, almost as if orchestrated by an invisible hand. This deep insight has, over the past two centuries, been taken out of context, contorted, and used as the cornerstone of free-market orthodoxy. In Beyond the Invisible Hand, Kaushik Basu argues that mainstream economics and its conservative popularizers have misrepresented Smith's insight and hampered our understanding of how economies function, why some economies fail and some succeed, and what the nature and role of state intervention might be. Comparing this view of the invisible hand with the vision described by Kafka—in which individuals pursuing their atomistic interests, devoid of moral compunction, end up creating a world that is mean and miserable—Basu argues for collective action and the need to shift our focus from the efficient society to one that is also fair. Using analytic tools from mainstream economics, the book challenges some of the precepts and propositions of mainstream economics. It maintains that, by ignoring the role of culture and custom, traditional economics promotes the view that the current system is the only viable one, thereby serving the interests of those who do well by this system. Beyond the Invisible Hand challenges readers to fundamentally rethink the assumptions underlying modern economic thought and proves that a more equitable society is both possible and sustainable, and hence worth striving for. By scrutinizing Adam Smith's theory, this impassioned critique of contemporary mainstream economics debunks traditional beliefs regarding best economic practices, self-interest, and the social good.

Landscape with Invisible Hand

Author : M. T. Anderson
Publisher : Candlewick Press
ISBN 13 : 0763697230
Total Pages : 160 pages
Book Rating : 4.7/5 (636 download)

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Book Synopsis Landscape with Invisible Hand by : M. T. Anderson

Download or read book Landscape with Invisible Hand written by M. T. Anderson and published by Candlewick Press. This book was released on 2017-09-12 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: National Book Award winner M. T. Anderson returns to future Earth in a sharply wrought satire of art and truth in the midst of colonization. When the vuvv first landed, it came as a surprise to aspiring artist Adam and the rest of planet Earth — but not necessarily an unwelcome one. Can it really be called an invasion when the vuvv generously offered free advanced technology and cures for every illness imaginable? As it turns out, yes. With his parents’ jobs replaced by alien tech and no money for food, clean water, or the vuvv’s miraculous medicine, Adam and his girlfriend, Chloe, have to get creative to survive. And since the vuvv crave anything they deem classic Earth culture (doo-wop music, still life paintings of fruit, true love), recording 1950s-style dates for the vuvv to watch in a pay-per-minute format seems like a brilliant idea. But it’s hard for Adam and Chloe to sell true love when they hate each other more with every passing episode. Soon enough, Adam must decide how far he’s willing to go — and what he’s willing to sacrifice — to give the vuvv what they want.

The Essential Adam Smith

Author : Adam Smith
Publisher : W. W. Norton & Company
ISBN 13 : 0393242609
Total Pages : 352 pages
Book Rating : 4.3/5 (932 download)

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Book Synopsis The Essential Adam Smith by : Adam Smith

Download or read book The Essential Adam Smith written by Adam Smith and published by W. W. Norton & Company. This book was released on 1987-03-17 with total page 352 pages. Available in PDF, EPUB and Kindle. Book excerpt: Few writings are more often cited as a cornerstone of modern economic thought than those of Adam Smith. Few are less read. The sheer strength of his great work, The Wealth of Nations, discourages many from attempting to explore its rich and lucid arguments. In this brilliantly crafted volume, one of the most eminent economists of our day provides a generous selection from the entire body of Smith's work, ranging from his fascinating psychological observations on human nature to his famous treatise on what Smith called a "society of natural liberty," The Wealth of Nations. Among the works represented in this volume in addition to The Wealth of Nations are The History of Astronomy, Lectures on Jurisprudence, The Theory of Moral Sentiments, and Smith's correspondence with David Hume. Before each of Smith's writings Robert Heilbroner presents a clear and lively discussion that will interest the scholar as much as it will clarify the work for the non-specialist. Adam Smith emerges from this collection of his writings, as he does from his portrait in Professor Heilbroner's well-known book, as the first economist to deserve the title of "worldly philosopher."

The Invisible Hand in Economics

Author : N. Emrah Aydinonat
Publisher : Routledge
ISBN 13 : 1134114273
Total Pages : 272 pages
Book Rating : 4.1/5 (341 download)

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Book Synopsis The Invisible Hand in Economics by : N. Emrah Aydinonat

Download or read book The Invisible Hand in Economics written by N. Emrah Aydinonat and published by Routledge. This book was released on 2008-02-19 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a book about one of the most controversial concepts in economics: the invisible hand. The author explores the unintended social consequences implied by the invisible hand and discusses the mechanisms that bring about these consequences. The book questions, examines and explicates the strengths and weaknesses of invisible-hand explanations concerning the emergence of institutions and macro-social structures, from a methodological and philosophical perspective. Aydinonat analyses paradigmatic examples of invisible-hand explanations such as Carl Menger’s ‘Origin of Money’ and Thomas Schelling’s famous checkerboard model of residential segregation in relation to contemporary models of emergence of money and segregation. Based on this analysis, he provides a fresh look at the philosophical literature on models and explanation and develops a philosophical framework for interpreting invisible-hand type of explanations in economics and elsewhere. Finally, the author applies this framework to recent game theoretic models of institutions and outlines the way in which they should be evaluated.

The Invisible Hand

Author : Adam Smith
Publisher : Penguin UK
ISBN 13 : 0141963352
Total Pages : 102 pages
Book Rating : 4.1/5 (419 download)

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Book Synopsis The Invisible Hand by : Adam Smith

Download or read book The Invisible Hand written by Adam Smith and published by Penguin UK. This book was released on 2008-08-07 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Adam Smith’s landmark treatise on the free market paved the way for modern capitalism, arguing that competition is the engine of a productive society, and that self-interest will eventually come to enrich the whole community, as if by an ‘invisible hand’. Throughout history, some books have changed the world. They have transformed the way we see ourselves – and each other. They have inspired debate, dissent, war and revolution. They have enlightened, outraged, provoked and comforted. They have enriched lives – and destroyed them. Now Penguin brings you the works of the great thinkers, pioneers, radicals and visionaries whose ideas shook civilization and helped make us who we are.

The Invisible Hand?

Author : Bas van Bavel
Publisher : Oxford University Press
ISBN 13 : 0191017671
Total Pages : 320 pages
Book Rating : 4.1/5 (91 download)

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Book Synopsis The Invisible Hand? by : Bas van Bavel

Download or read book The Invisible Hand? written by Bas van Bavel and published by Oxford University Press. This book was released on 2016-06-24 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Invisible Hand offers a radical departure from the conventional wisdom of economists and economic historians, by showing that 'factor markets' and the economies dominated by them — the market economies — are not modern, but have existed at various times in the past. They rise, stagnate, and decline; and consist of very different combinations of institutions embedded in very different societies. These market economies create flexibility and high mobility in the exchange of land, labour, and capital, and initially they generate economic growth, although they also build on existing social structures, as well as existing exchange and allocation systems. The dynamism that results from the rise of factor markets leads to the rise of new market elites who accumulate land and capital, and use wage labour extensively to make their wealth profitable. In the long term, this creates social polarization and a decline of average welfare. As these new elites gradually translate their economic wealth into political leverage, it also creates institutional sclerosis, and finally makes these markets stagnate or decline again. This process is analysed across the three major, pre-industrial examples of successful market economies in western Eurasia: Iraq in the early Middle Ages, Italy in the high Middle Ages, and the Low Countries in the late Middle Ages and the early modern period, and then parallels drawn to England and the United States in the modern period. These areas successively saw a rapid rise of factor markets and the associated dynamism, followed by stagnation, which enables an in-depth investigation of the causes and results of this process.

The Invisible Hand

Author : John Eatwell
Publisher : Springer
ISBN 13 : 1349203130
Total Pages : 294 pages
Book Rating : 4.3/5 (492 download)

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Book Synopsis The Invisible Hand by : John Eatwell

Download or read book The Invisible Hand written by John Eatwell and published by Springer. This book was released on 1989-11-01 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an excerpt from the 4-volume dictionary of economics, a reference book which aims to define the subject of economics today. 1300 subject entries in the complete work cover the broad themes of economic theory. This extract concentrates on the theory of the invisible hand.

Invisible Hands

Author : Corinne
Publisher : McSweeney's
ISBN 13 : 1940450357
Total Pages : 393 pages
Book Rating : 4.9/5 (44 download)

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Book Synopsis Invisible Hands by : Corinne

Download or read book Invisible Hands written by Corinne and published by McSweeney's. This book was released on 2014-05-06 with total page 393 pages. Available in PDF, EPUB and Kindle. Book excerpt: The men and women in Invisible Hands reveal the human rights abuses occurring behind the scenes of the global economy. These narrators — including phone manufacturers in China, copper miners in Zambia, garment workers in Bangladesh, and farmers around the world — reveal the secret history of the things we buy, including lives and communities devastated by low wages, environmental degradation, and political repression. Sweeping in scope and rich in detail, these stories capture the interconnectivity of all people struggling to support themselves and their families. Narrators include Kalpona, a leading Bangladeshi labor organizer who led her first strike at 15; Han, who, as a teenager, began assembling circuit boards for an international electronics company based in Seoul; Albert, a copper miner in Zambia who, during a wage protest, was shot by representatives of the Chinese-owned mining company that he worked for; and Sanjay, who grew up in the shadow of the Bhopal chemical disaster, one of the worst industrial accidents in history.

The Other Invisible Hand

Author : Julian Le Grand
Publisher : Princeton University Press
ISBN 13 : 1400828007
Total Pages : 208 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Other Invisible Hand by : Julian Le Grand

Download or read book The Other Invisible Hand written by Julian Le Grand and published by Princeton University Press. This book was released on 2009-01-10 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can we ensure high-quality public services such as health care and education? Governments spend huge amounts of public money on public services such as health, education, and social care, and yet the services that are actually delivered are often low quality, inefficiently run, unresponsive to their users, and inequitable in their distribution. In this book, Julian Le Grand argues that the best solution is to offer choice to users and to encourage competition among providers. Le Grand has just completed a period as policy advisor working within the British government at the highest levels, and from this he has gained evidence to support his earlier theoretical work and has experienced the political reality of putting public policy theory into practice. He examines four ways of delivering public services: trust; targets and performance management; "voice"; and choice and competition. He argues that, although all of these have their merits, in most situations policies that rely on extending choice and competition among providers have the most potential for delivering high-quality, efficient, responsive, and equitable services. But it is important that the relevant policies be appropriately designed, and this book provides a detailed discussion of the principal features that these policies should have in the context of health care and education. It concludes with a discussion of the politics of choice.

Law and the Invisible Hand

Author : Robin Paul Malloy
Publisher : Cambridge University Press
ISBN 13 : 1108874606
Total Pages : 205 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Law and the Invisible Hand by : Robin Paul Malloy

Download or read book Law and the Invisible Hand written by Robin Paul Malloy and published by Cambridge University Press. This book was released on 2021-11-18 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: A contemporary interpretation of Adam Smith's work on jurisprudence, revealing Smith's belief that progress emerges from cooperation and a commitment to justice. In Smith's theory, the tension between self–interest and the interests of others is mediated by law, so that the common interest of the community can be promoted. Moreover, Smith informs us that successful societies do at least three things well. They promote the common interest, advance justice through the rule of law, and they facilitate our natural desire to truck, barter, and exchange. In this process, law functions as an invisible force that holds society together and keeps it operating smoothly and productively. Law enhances social cooperation, facilitates trade, and extends the market. In these ways, law functions like Adam Smith's invisible hand, guiding and facilitating the progress of humankind.

Invisible Hands

Author : Jonathan Sheehan
Publisher : University of Chicago Press
ISBN 13 : 0226824047
Total Pages : 394 pages
Book Rating : 4.2/5 (268 download)

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Book Synopsis Invisible Hands by : Jonathan Sheehan

Download or read book Invisible Hands written by Jonathan Sheehan and published by University of Chicago Press. This book was released on 2022-12-06 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: A synthesis of eighteenth-century intellectual and cultural developments that offers an original explanation of how Enlightenment thought grappled with the problem of divine agency. Why is the world orderly, and how does this order come to be? Human beings inhabit a multitude of apparently ordered systems—natural, social, political, economic, cognitive, and others—whose origins and purposes are often obscure. In the eighteenth century, older certainties about such orders, rooted in either divine providence or the mechanical operations of nature, began to fall away. In their place arose a new appreciation for the complexity of things, a new recognition of the world’s disorder and randomness, new doubts about simple relations of cause and effect—but with them also a new ability to imagine the world’s orders, whether natural or manmade, as self-organizing. If large systems are left to their own devices, eighteenth-century Europeans increasingly came to believe, order will emerge on its own without any need for external design or direction. In Invisible Hands, Jonathan Sheehan and Dror Wahrman trace the many appearances of the language of self-organization in the eighteenth-century West. Across an array of domains, including religion, society, philosophy, science, politics, economy, and law, they show how and why this way of thinking came into the public view, then grew in prominence and arrived at the threshold of the nineteenth century in versatile, multifarious, and often surprising forms. Offering a new synthesis of intellectual and cultural developments, Invisible Hands is a landmark contribution to the history of the Enlightenment and eighteenth-century culture.

The Invisible Hand

Author : Ayad Akhtar
Publisher : Back Bay Books
ISBN 13 : 0316324507
Total Pages : 144 pages
Book Rating : 4.3/5 (163 download)

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Book Synopsis The Invisible Hand by : Ayad Akhtar

Download or read book The Invisible Hand written by Ayad Akhtar and published by Back Bay Books. This book was released on 2015-08-25 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: A chilling examination of how far we will go to survive and the consequences of the choices we make. In remote Pakistan, Nick Bright awaits his fate. A successful financial trader, Nick is kidnapped by an Islamic militant group, but with no one negotiating his release, he agrees to an unusual plan. He will earn his own ransom by helping his captors manipulate and master the world commodities and currency markets. "[A] tense, provocative thriller about the unholy nexus of international terrorism and big bucks...." (Seattle Times). "Ahktar again turns hypersensitive subjects into thought-provoking and thoughtful drama" (Newsday). "The prime theme is pulsing and alive: when human lives become just one more commodity to be traded, blood eventually flows in the streets" (Financial Times). "Whip-smart and twisty" (Time Out New York), "The Invisible Hand offers genuine insight into the future of the West" (Village Voice).

The Hand Behind the Invisible Hand

Author : Mittermaier, Karl
Publisher : Policy Press
ISBN 13 : 152921579X
Total Pages : 278 pages
Book Rating : 4.5/5 (292 download)

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Book Synopsis The Hand Behind the Invisible Hand by : Mittermaier, Karl

Download or read book The Hand Behind the Invisible Hand written by Mittermaier, Karl and published by Policy Press. This book was released on 2020-07-22 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available Open Access under CC-BY-NC-ND Made famous by the Enlightenment thinker Adam Smith, the concept of an ‘invisible hand’ might be taken to imply that a government that governs least governs the best, from the viewpoint of society. Here an invisible hand appears to represent unfettered market forces. Drawing from this much-contested notion, Mittermaier indicates why such a view represents only one side of the story and distinguishes between what he calls pragmatic and dogmatic free marketeers. Published posthumously, with new contributions by Daniel Klein, Rod O’Donnell and Christopher Torr, this book outlines Mittermaier’s main thesis and his relevance for ongoing debates within economics, politics, sociology and philosophy.

The Invisible Hand in Virtual Worlds

Author : Matthew McCaffrey
Publisher : Cambridge University Press
ISBN 13 : 1108839711
Total Pages : 263 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis The Invisible Hand in Virtual Worlds by : Matthew McCaffrey

Download or read book The Invisible Hand in Virtual Worlds written by Matthew McCaffrey and published by Cambridge University Press. This book was released on 2022-02-03 with total page 263 pages. Available in PDF, EPUB and Kindle. Book excerpt: Studies the economic order that governs virtual worlds and ways individuals work together to govern social relations in the digital space.

Machines, Bodies and Invisible Hands

Author : Stefano Fiori
Publisher : Springer Nature
ISBN 13 : 3030852067
Total Pages : 245 pages
Book Rating : 4.0/5 (38 download)

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Book Synopsis Machines, Bodies and Invisible Hands by : Stefano Fiori

Download or read book Machines, Bodies and Invisible Hands written by Stefano Fiori and published by Springer Nature. This book was released on 2021-10-23 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: What was Adam Smith’s intellectual laboratory? How did his economic theory take shape? Were his metaphors of order only residual and ornamental expressions? This book answers these questions by analyzing the formation of the concepts of market and social order in Adam Smith’s work, by considering various aspects of his approach. It analyzes how metaphors and pre-analytical concepts influenced Smith’s theory. In line with studies that deal with the cognitive role of metaphors in science, this book suggests that in Smith’s work metaphors provided a framework, on which basis the theory subsequently developed. Therefore, as such they were part of that intellectual process which made possible the formation of structured concepts. The content and scope of the book permits a more comprehensive interpretation of Smith’s thought, in which many aspects of his work are taken into consideration in order to explain a crucial problem for Smith: the nature and causes of social and economic order. The book also shows that in general, formation of theories is a complex process that includes pre-analytical views as non-residual parts of inquiry.

Slapped by the Invisible Hand

Author : Gary B. Gorton
Publisher : Oxford University Press
ISBN 13 : 9780199742110
Total Pages : 240 pages
Book Rating : 4.7/5 (421 download)

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Book Synopsis Slapped by the Invisible Hand by : Gary B. Gorton

Download or read book Slapped by the Invisible Hand written by Gary B. Gorton and published by Oxford University Press. This book was released on 2010-03-08 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the most convincing take on the recent economic meltdown. Now, in Slapped by the Invisible Hand, Gorton builds upon this seminal work, explaining how the securitized-banking system, the nexus of financial markets and instruments unknown to most people, stands at the heart of the financial crisis. Gorton shows that the Panic of 2007 was not so different from the Panics of 1907 or of 1893, except that, in 2007, most people had never heard of the markets that were involved, didn't know how they worked, or what their purposes were. Terms like subprime mortgage, asset-backed commercial paper conduit, structured investment vehicle, credit derivative, securitization, or repo market were meaningless. In this superb volume, Gorton makes all of this crystal clear. He shows that the securitized banking system is, in fact, a real banking system, allowing institutional investors and firms to make enormous, short-term deposits. But as any banking system, it was vulnerable to a panic. Indeed the events starting in August 2007 can best be understood not as a retail panic involving individuals, but as a wholesale panic involving institutions, where large financial firms "ran" on other financial firms, making the system insolvent. An authority on banking panics, Gorton is the ideal person to explain the financial calamity of 2007. Indeed, as the crisis unfolded, he was working inside an institution that played a central role in the collapse. Thus, this book presents the unparalleled and invaluable perspective of a top scholar who was also a key insider.