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Failures of the “Invisible Hand”

Author

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  • Rafi Amir-ud-Din
  • Asad Zaman

Abstract

Despite many failures of the invisible hand both empirically and theoretically, it continues to be vigorously asserted and widely believed. We document the failures and explain why it continues to be asserted despite these failures.

Suggested Citation

  • Rafi Amir-ud-Din & Asad Zaman, 2016. "Failures of the “Invisible Hand”," Forum for Social Economics, Taylor & Francis Journals, vol. 45(1), pages 41-60, February.
    • Handle: RePEc:taf:fosoec:v:45:y:2016:i:1:p:41-60
    DOI: 10.1080/07360932.2015.1019536
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    References listed on IDEAS

    as
    1. Ledyard, John O., "undated". "Public Goods: A Survey of Experimental Research," Working Papers 861, California Institute of Technology, Division of the Humanities and Social Sciences.
    2. Rodrik, Dani, 1994. "King Kong Meets Godzilla: The World Bank and The East Asian Miracle," CEPR Discussion Papers 944, C.E.P.R. Discussion Papers.
    3. repec:dgr:rugcds:199703 is not listed on IDEAS
    4. Hermes, Niels, 1997. "New explanations of the economic success of East Asia : lessons for developing and Eastern European countries," CDS Research Reports 199703, University of Groningen, Centre for Development Studies (CDS).
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    Cited by:

    1. Asad Zaman, 2014. "An Islamic Approach to Humanities مقاربة إسلامية للعلوم الإنسانية," Journal of King Abdulaziz University: Islamic Economics, King Abdulaziz University, Islamic Economics Institute., vol. 27(2), pages 3-28, July.

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