Erasing the invisible hand: essays on an elusive and misused concept in economics

Abstract

Preface 1. Adam Smith's invisible hand and the Nobel prize in economic sciences 2. The political economy of Adam Smith 3. On the identities and functions attributed to the invisible hand 4. Adam Smith's History of Astronomy argument: how broadly does it apply? And where do propositions which 'sooth the imagination' come from? 5. Conceptual and substantive issues and problems 6. The invisible hand in an uncertain world with an uncertain language 7. The invisible hand as knowledge 8. The invisible hand and the economic role of government 9. The survival requirement of Pareto optimality 10. Conclusions and further insights.