IDEAS home Printed from https://ideas.repec.org/a/ksa/szemle/1492.html
   My bibliography  Save this article

A láthatatlan kéz - szemelvények egy metafora történetéből
[The invisible hand - extracts from the history of a metaphor]

Author

Listed:
  • Madarász, Aladár

Abstract

A láthatatlan kéz Adam Smith nyomán a közgazdaságtan legismertebb metaforája lett, de jelentősége és értelmezése máig megosztja a közgazdászokat és eszmetörténészeket. Az interpretációk skálája rendkívül széles: mértékadó közgazdászok szerint ez a közgazdaságtan alapeszméje, míg mások Smith ironikus tréfájának vélik. A tanulmány áttekinti a láthatatlan kéz Smith előtti használatát teológiai, politikai és irodalmi szövegekben és a hozzájuk kapcsolódó interpretációkat. Ezt követően bemutatja, hogyan alkalmazta Smith a nevezetes kifejezést a merkantilista politika ironikus és paradox kritikájaként, és miként került a 19. század végétől e metafora a Smith-olvasatokban központi helyre, majd miként vált kérdésessé ez a felfogás a 2008-as válság nyomán. Journal of Economic Literature (JEL) kód: B10, B11, B12, B15, B19, B20, B31.

Suggested Citation

  • 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.
    • Handle: RePEc:ksa:szemle:1492
    as

    Download full text from publisher

    File URL: http://www.kszemle.hu/tartalom/letoltes.php?id=1492
    Download Restriction: Registration and subscription. 3-month embargo period to non-subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. 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.
    2. Samuels,Warren J. Assisted by-Name:Johnson,Marianne F. Assisted by-Name:Perry,William H., 2014. "Erasing the Invisible Hand," Cambridge Books, Cambridge University Press, number 9781107613164, November.
    3. James Tobin, 1991. "The Invisible Hand in Modern Macroeconomics," Cowles Foundation Discussion Papers 966, Cowles Foundation for Research in Economics, Yale University.
    4. William D. Grampp, 2000. "What Did Smith Mean by the Invisible Hand?," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 441-465, June.
    5. Gilbert Faccarello, 2005. "A tale of two traditions: Pierre Force's Self-interest before Adam Smith," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(4), pages 701-712.
    6. Fiori, Stefano, 2012. "Adam Smith On Method: Newtonianism, History, Institutions, And The “Invisible Hand”," Journal of the History of Economic Thought, Cambridge University Press, vol. 34(3), pages 411-435, September.
    7. Gick, Evelyn & Runst, Petrik, 2013. "Introduction And Commentary For F. A. Hayek’S “The Overrated Reason”," Journal of the History of Economic Thought, Cambridge University Press, vol. 35(2), pages 233-237, June.
    8. Lisbet Rausing, 2003. "Underwriting the Oeconomy: Linnaeus on Nature and Mind," History of Political Economy, Duke University Press, vol. 35(5), pages 173-203, Supplemen.
    9. repec:cai:poeine:pope_206_0829 is not listed on IDEAS
    10. Paul Oslington, 2012. "God and the Market: Adam Smith’s Invisible Hand," Journal of Business Ethics, Springer, vol. 108(4), pages 429-438, July.
    11. Kwangsu Kim, 2012. "Adam Smith's 'History of Astronomy' and view of science," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 36(4), pages 799-820.
    12. repec:ucp:bkecon:9780226320670 is not listed on IDEAS
    13. Ingram, John Kells, 1888. "A History of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, number ingram1888.
    14. Gilbert Faccarello, 1976. "Bibliographie," Cahiers d'Économie Politique, Programme National Persée, vol. 3(1), pages 243-260.
    15. Margaret Schabas & Neil De Marchi, 2003. "Introduction to Oeconomies in the Age of Newton," History of Political Economy, Duke University Press, vol. 35(5), pages 1-13, Supplemen.
    16. Gavin Kennedy, 2009. "Adam Smith and the Invisible Hand: From Metaphor to Myth," Econ Journal Watch, Econ Journal Watch, vol. 6(2), pages 239-263, May.
    17. Winch,Donald, 2009. "Wealth and Life," Cambridge Books, Cambridge University Press, number 9780521715393, November.
    18. Paul Oslington, 2012. "Jacob Viner on Adam Smith: Development and reception of a theological reading," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(2), pages 287-301, May.
    19. Khalil, Elias L., 2000. "Making Sense of Adam Smith's Invisible Hand: Beyond Pareto Optimality and Unintended Consequences," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(1), pages 49-63, March.
    20. Anthony Brewer, 2009. "On the Other (Invisible) Hand..," History of Political Economy, Duke University Press, vol. 41(3), pages 519-543, Fall.
    21. Lisa Hill, 2001. "The hidden theology of Adam Smith," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(1), pages 1-29.
    22. Steven G. Medema, 2010. "Adam Smith and the Chicago School," Chapters, in: Ross B. Emmett (ed.), The Elgar Companion to the Chicago School of Economics, chapter 3, Edward Elgar Publishing.
    23. Lisa Hill, 2004. "Further reflections on the 'Hidden Theology' of Adam Smith," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 11(4), pages 629-635.
    24. Hayek, F. A., 2013. "The Overrated Reason," Journal of the History of Economic Thought, Cambridge University Press, vol. 35(2), pages 239-256, June.
    25. Christopher J. Berry, 2012. "Adam Smith's "Science of Human Nature"," History of Political Economy, Duke University Press, vol. 44(3), pages 471-492, Fall.
    26. Force,Pierre, 2003. "Self-Interest before Adam Smith," Cambridge Books, Cambridge University Press, number 9780521830607, November.
    27. Joseph E. Stiglitz, 1991. "The Invisible Hand and Modern Welfare Economics," NBER Working Papers 3641, National Bureau of Economic Research, Inc.
    28. Gavin Kennedy, 2010. "Paul Samuelson and the invention of the modern economics of the Invisible Hand," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 18(3), pages 105-120.
    29. Winch,Donald, 2009. "Wealth and Life," Cambridge Books, Cambridge University Press, number 9780521887533, November.
    30. Pierre Force, 2005. "Two concepts of providence and two concepts of pity: A reply to Gilbert Faccarello and Jimena Hurtado," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(4), pages 723-731.
    31. Persky, Joseph, 1989. "Adam Smith's Invisible Hands," Journal of Economic Perspectives, American Economic Association, vol. 3(4), pages 195-201, Fall.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mollie Painter-Morland & Rosa Slegers, 2018. "Strengthening “Giving Voice to Values” in Business Schools by Reconsidering the “Invisible Hand” Metaphor," Journal of Business Ethics, Springer, vol. 147(4), pages 807-819, February.
    2. Paul Oslington, 2012. "God and the Market: Adam Smith’s Invisible Hand," Journal of Business Ethics, Springer, vol. 108(4), pages 429-438, July.
    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.
    4. Avner Offer, 2012. "Self-interest, Sympathy and the Invisible Hand : From Adam Smith to Market Liberalism," Economic Thought, World Economics Association, vol. 1(2), pages 1-1, December.
    5. Bruce E. Kaufman, 2016. "Adam Smith’s Economics and the Modern Minimum Wage Debate:The Large Distance Separating Kirkcaldy from Chicago," Journal of Labor Research, Springer, vol. 37(1), pages 29-52, March.
    6. Matthias P. Hühn & Claus Dierksmeier, 2016. "Will the Real A. Smith Please Stand Up!," Journal of Business Ethics, Springer, vol. 136(1), pages 119-132, June.
    7. Ötsch, Walter, 2020. "Imagination und Bildlichkeit in der Geschichte der Wirtschaftstheorie: Von Adam Smith bis zur frühen Neoklassik," Working Paper Serie des Instituts für Ökonomie 63, Hochschule für Gesellschaftsgestaltung (HfGG), Institut für Ökonomie.
    8. Emiel F.M. Wubben, 2011. "Do Rules and Regulations Bind or Boost Economic Growth?," Chapters, in: Emiel F.M. Wubben (ed.), Institutions and Regulation for Economic Growth?, chapter 1, Edward Elgar Publishing.
    9. Avner Offer, 2012. "Self-interest, Sympathy and the Invisible Hand : From Adam Smith to Market Liberalism," Economic Thought, World Economics Association, vol. 1(2), pages 1-1, December.
    10. Ahmad Jafari Samimi, 2011. "Ethonomics & the History of Economic Thought," Journal of Social and Development Sciences, AMH International, vol. 2(5), pages 223-232.
    11. Santori, Paolo & Assistant, JHET, 2021. "Idleness and the Very Sparing Hand of God: The invisible tie between Hume’s "Dialogues Concerning Natural Religion" and Smith’s "Wealth of Nations"," OSF Preprints r2uje, Center for Open Science.
    12. 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.
    13. Erik W. Matson, 2022. "What is liberal about Adam Smith's “liberal plan”?," Southern Economic Journal, John Wiley & Sons, vol. 89(2), pages 593-610, October.
    14. Daniela Donnini Macciò, 2015. "G.E. Moore's philosophy and Cambridge economics: Ralph Hawtrey on ethics and methodology," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 22(2), pages 163-197, April.
    15. Michalis Psalidopoulos & Nicholas J. Theocarakis, 2015. "Disparaging liberal economics in nineteenth-century Greece: The case of "The economist's duck"," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 22(6), pages 949-977, December.
    16. Eric Schliesser, 2010. "Reading Adam Smith after Darwin: On the Evolution of Propensities, Institutions, and Sentiments," Post-Print hal-00921187, HAL.
    17. Dupont, Brandon & Durham, Yvonne, 2021. "Adam Smith and the not so invisible hand: A revision for the undergraduate classroom," International Review of Economics Education, Elsevier, vol. 36(C).
    18. Klaus Hofmann, 2013. "Beyond the principle of population: Malthus's Essay," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 20(3), pages 399-425, June.
    19. Gavin Kennedy, 2015. "Adam Smith's Use of the 'Gravitation' Metaphor," Economic Thought, World Economics Association, vol. 4(1), pages 67-79, March.
    20. Roger E. Backhouse & Bradley W. Bateman, 2009. "Keynes and Capitalism," History of Political Economy, Duke University Press, vol. 41(4), pages 645-671, Winter.

    More about this item

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B11 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • B19 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Other
    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ksa:szemle:1492. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Odon Sok The email address of this maintainer does not seem to be valid anymore. Please ask Odon Sok to update the entry or send us the correct address (email available below). General contact details of provider: http://www.kszemle.hu .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.