A good account of Smiths usage and how it has nothing to do with the usages to which it is now put is given at: http://adamsmithslostlegacy.blogspot.com/ ________________________________________ From: [email protected] [[email protected]] On Behalf Of Paul Cockshott [[email protected]] Sent: Monday, April 18, 2011 8:59 AM To: Progressive Economics Subject: Re: [Pen-l] invisible hand
If I recall Smith correctly Smiith used the phrase twice, once in the Moral sentiments to refer to the invisible hand of morality and once in the Wealth of Nations to refer to competition acting as an invisible hand. ________________________________________ From: [email protected] [[email protected]] On Behalf Of ken hanly [[email protected]] Sent: Sunday, April 17, 2011 11:29 PM To: Progressive Economics Subject: Re: [Pen-l] invisible hand The Invisible Hand is a piece of ideological crapola meant to justify rationing goods on the basis of income rather than need or dessert aka as the free market. The hand helps up anyone with money and slaps down anyone who does not. Cheers, ken ________________________________ From: Lakshmi Rhone <[email protected]> To: [email protected] Sent: Sun, April 17, 2011 3:36:12 PM Subject: [Pen-l] invisible hand Nice comment by Joan Robinson: http://www.economistsview.typepad.com/economistsview/2007/07/morality-and-ec.html Haven't read Medema's new book on the invisible hand but Emma Rothschild on Condorect and Smith and Kaushik Basu's Beyond The Invisible Hand are very stimulating. Rothschild treats Smith's references to an invisible hand as an ironic joke. Basu shows that the invisible hand theorems depend on all kinds of untenable assumptions; moreover the kind of behavior that does tend to promote human flourishing is bound by norms in terms of which certain rational self-interested actions actually become unthinkable. Amartya Sen has tried to think out the full implications not of Smith's model of economic man but of Smith's moral viewpoint of the impartial spectator. From that viewpoint he develops a critique of contemporary ethical and political phillosophy and Rawls in particular. Lakshmi The University of Glasgow, charity number SC004401 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l The University of Glasgow, charity number SC004401 _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
