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A Reply to Daniel Klein on Adam Smith and the Invisible Hand

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  • Gavin Kennedy

Abstract

The May 2009 issue of this journal featured a two-part exchange between myself and Daniel Klein on the meaning and significance of the expression “invisible hand†in the writings of Adam Smith. In his comment on my piece, Klein imputed much larger, and, in my view, extraneous meaning to it. Here I conclude the exchange by responding to Klein’s comment.

Suggested Citation

  • Gavin Kennedy, 2009. "A Reply to Daniel Klein on Adam Smith and the Invisible Hand," Econ Journal Watch, Econ Journal Watch, vol. 6(3), pages 374-388, September.
    • Handle: RePEc:ejw:journl:v:6:y:2009:i:3:p:374-388
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    References listed on IDEAS

    as
    1. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 3.
    2. Jeffrey T. Young, 1997. "Economics as a Moral Science," Books, Edward Elgar Publishing, number 842.
    3. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 2.
    4. Ejis, 2009. "Table of Contents," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    5. Editorial Article, 0. "Contents," Economics of Contemporary Russia, Regional Public Organization for Assistance to the Development of Institutions of the Department of Economics of the Russian Academy of Sciences, issue 3.
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    Citations

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    Cited by:

    1. Asad Zaman, 2014. "Islam versus economics," Chapters, in: M. Kabir Hassan & Mervyn K. Lewis (ed.), Handbook on Islam and Economic Life, chapter 3, pages iii-iii, Edward Elgar Publishing.
    2. Madarász, Aladár, 2014. "A láthatatlan kéz - szemelvények egy metafora történetéből [The invisible hand - extracts from the history of a metaphor]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(7), pages 801-844.
    3. David Bevan & Patricia Werhane, 2015. "The Inexorable Sociality of Commerce: The Individual and Others in Adam Smith," Journal of Business Ethics, Springer, vol. 127(2), pages 327-335, March.

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    More about this item

    Keywords

    Adam Smith; invisible hand; Theory of Moral Sentiments; Wealth of Nations; metaphor; myth;
    All these keywords.

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • B0 - Schools of Economic Thought and Methodology - - General
    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925

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