haku: @indexterm Classical economics / yhteensä: 5
viite: 4 / 5
| Tekijä: | Grampp, W. |
| Otsikko: | What did Smith mean by the Invisible hand? |
| Lehti: | Journal of Political Economy
2000 : JUN, VOL. 108:3, p. 441-465 |
| Asiasana: | POLITICAL ECONOMY CLASSICAL ECONOMICS ECONOMIC POLICY |
| Kieli: | eng |
| Tiivistelmä: | The invisible hand is not a power that makes the good of one the good of all, and it is not any of a number of other things it is said to be. It is simply the inducement a merchant has to keep his capital at home, thereby increasing the domestic capital stock and enhancing military power, both of which are in the public interest and neither of which he intended. Smith's exposition discloses how his rhetorical sallies could disfigure his economics, confuse his argument for free trade, and make him play fast and loose with facts and the ideas of others. |
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