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Erasing the Invisible Hand
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.
Essays in the History of Economics
Under the impressive editorship of Warren Samuels et al, this book addresses the state of the history of economic thought today. A relevant and important contribution to economics that will develop an unsurprising number of fans.
Erasing the Invisible Hand
"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"--
Erasing the Invisible Hand
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 Academy of Fisticuffs
The terms “capitalism” and “socialism” continue to haunt our political and economic imaginations, but we rarely consider their interconnected early history. Even the eighteenth century had its “socialists,” but unlike those of the nineteenth, they paradoxically sought to make the world safe for “capitalists.” The word “socialists” was first used in Northern Italy as a term of contempt for the political economists and legal reformers Pietro Verri and Cesare Beccaria, author of the epochal On Crimes and Punishments. Yet the views and concerns of these first socialists, developed inside a pugnacious intellectual coterie dubbed the Academy of Fisticuffs, differ dramatically f...
Constitutionalism, Executive Power, and the Spirit of Moderation
In Constitutionalism, Executive Power, and the Spirit of Moderation, contributors ranging from scholars to practitioners in the federal executive and judicial branches blend philosophical and political modes of analysis to examine a variety of constitutional, legal, and philosophical topics. Part 1, "The Role of Courts in Constitutional Democracy," analyzes the proper functions and limits of the judiciary and judicial decision making in constitutional government. Part 2, "Law and Executive Authority," reflects on the tensions between constitutionalism and presidential leadership in both domestic and international arenas. Part 3, "Liberal Education, Constitutionalism, and Philosophic Moderation," shifts the focus to the relationship between constitutionalism and political philosophy, and especially to the modern modes of philosophy that most directly influenced the American Founders. A valuable resource for specialists, the book also will be of use in political science and law school classes.
Henry George's Legacy in Economic Thought
Henry George's "Legacy in Economic Thought" will appeal in particular to upper level students and scholars of the history of economic thought and the public sector but also to economists more widely.
