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Visible and invisible order. The theoretical duality of Smith's political economy

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  • Stefano Fiori

Abstract

The aim of the paper is to show that Adam Smith elaborated a distinctive image of nature related to economic discourse. In Smith, visible events (or interdependencies) must be connected to invisible principles which, in particular, should provide an explanation of the self-coordination processes (especially that of market). In a broad sense, this approach was adopted by a number of disciplines in Smith's time (especially the sciences of life), which focused the analysis of the organization of complex systems. Moreover, the conceptual pair (visibility and invisibility) is connoted in terms of theoretical duality, and the paper attempts to demonstrate how such duality is reproduced in Smith's economic categories.

Suggested Citation

  • Stefano Fiori, 2001. "Visible and invisible order. The theoretical duality of Smith's political economy," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(4), pages 429-448.
    • Handle: RePEc:taf:eujhet:v:8:y:2001:i:4:p:429-448
    DOI: 10.1080/09672560110079485
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    References listed on IDEAS

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    1. Stefano Fiori & Enzo Pesciarelli, 1999. "Adam Smith on Relations of Subordination, Personal Incentives and the Division of Labour," Scottish Journal of Political Economy, Scottish Economic Society, vol. 46(1), pages 91-106, February.
    2. J. Ronnie Davis, 1990. "Adam Smith on the Providential Reconciliation of Individual and Social Interests: Is Man Led by an Invisible Hand or Misled by a Sleight of Hand?," History of Political Economy, Duke University Press, vol. 22(2), pages 341-352, Summer.
    3. Salim Rashid, 1992. "Adam Smith and the Market Mechanism," History of Political Economy, Duke University Press, vol. 24(1), pages 129-152, Spring.
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