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In Adam Smith's Invisible Hands: Comment on Gavin Kennedy

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  • Daniel B. Klein

Abstract

Professor Gavin Kennedy’s essay on the invisible hand raises several issues: (1) whether the three occurrences of the phrase in Adam Smith’s writings are reconcilable; (2) whether the phrase may properly serve as tag for an important idea in natural jurisprudence; and (3) the importance Smith attached to the phrase. In line with A.L. Macfie, I argue that the three occurrences are reconcilable, and, in line with a great many others, that the phrase may properly serve as a tag for the comparative merit of liberty. Whether Smith intended for the phrase to be used that way is uncertain, but does not matter much to its serviceability.

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Bibliographic Info

Article provided by Econ Journal Watch in its journal Econ Journal Watch.

Volume (Year): 6 (2009)
Issue (Month): 2 (May)
Pages: 264-279

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Handle: RePEc:ejw:journl:v:6:y:2009:i:2:p:264-279

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Keywords: Adam Smith; invisible hand; natural liberty;

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Cited by:
  1. Boettke, Peter, 2010. "Corridors, Coordination and the Entrepreneurial Theory of the Market Process," MPRA Paper 33597, University Library of Munich, Germany.

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