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Invisible Hand Explanations: the Case of Menger's Explanation of the 'Origin of Money'


  • N. Emrah Aydinonat

    (Erasmus Institute for Philosophy & Economics; Erasmus University Rotterdam & The Netherlands & Faculty of Political Sciences; Ankara University Turkey)


Menger's explanation of the 'Origin of Money' is one of the paradigmatic examples of invisible hand explanations. This paper examines Menger's explanation in detail and comments on the characteristics of invisible hand explanations.

Suggested Citation

  • N. Emrah Aydinonat, 2000. "Invisible Hand Explanations: the Case of Menger's Explanation of the 'Origin of Money'," Method and Hist of Econ Thought 0004001, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpmh:0004001
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    Cited by:

    1. Mikael Stenkula, 2003. "Carl Menger and the network theory of money," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 10(4), pages 587-606.

    More about this item


    invisible hand; invisible hand explanations; Menger; origin of Money; Explanation;

    JEL classification:

    • B - Schools of Economic Thought and Methodology

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