Monday, March 08, 2010

Absolute Nonsense About Adam Smith and the Invisible Hand

The Zippy Cart team write in their Blog the following nonsense HERE:

“The InvisibleHand name comes from economist Adam Smith’s theory, that suggests people will make rational economic decisions when they have perfect information available to review. This is true today,”


Where do they get such nonsensical inventions from? Certainly not in anything Adam Smith wrote.



Blogger alex said...

It is certainly true that economists and others enjoy writing about Adam Smith, without reading his works.

While reading his Theory of Moral Sentiments recently, I was impressed with his presentation of such an area is a lucid and enjoyable way.

Also, people neglect his ideas on the importance of institutions, social behaviour, customs, etc.

4:27 am  

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