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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 nonnormative invisible hand processes are still useful tools"--

Economic schools --- Free enterprise --- Economics --- Capitalism --- Smith, Adam, --- Criticism and interpretation --- AA / International- internationaal --- 330.00 --- 321.2 --- Economische en sociale theorieën: algemeenheden. --- Economisch beleid van de overheid. --- Free markets --- Laissez-faire --- Markets, Free --- Private enterprise --- Economic policy --- Economic theory --- Political economy --- Social sciences --- Economic man --- Market economy --- Profit --- Capital --- Economisch beleid van de overheid --- Economische en sociale theorieën: algemeenheden --- Criticism and interpretation. --- Smith, Adam --- Smith, Adam, - 1723-1790 - Criticism and interpretation --- Smith, Adam, - 1723-1790

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The collection includes both refereed articles and review essays. The articles highlight research on the role of western economic advisors in China before the Communist Revolution (Paul Trescott), John Ryan on minimum wage legislation, a symposium on Clement Juglar, and a comparison of recent work in the history of economics and the history of science. Review essays on new publications examine a range of subjects, including: David Humes political economy; conceptions of economic morality in American thought; Frank Knight and the Austrians on institutions; Friedrich Engels; Austrian views on entrepreneurship; Coase and Pigou on government intervention; Hayek and conservatism; the history of the 'living wage' notion; methodological consideration of economics and econometrics; and Paul Heynes essays on economic and ethics.

Income distribution. --- Commons, John R. --- Bronfenbrenner, Martin,