Abstract

http://ssrn.com/abstract=2174027
 
 

References (11)



 
 

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A Response to Claude Hillinger's 'Adam Smith's Argument for the Existence of an Invisible Hand'


Gavin Kennedy


Heriot-Watt University - Edinburgh Business School

November 11, 2012


Abstract:     
This paper discusses briefly Adam Smith metaphoric use of the “invisible hand” chapter of Wealth of Nations and shows his use of the famous metaphor conforms to the proper role of metaphors in English grammar, as he taught his students. It also comments on the role of self-interest in society. Far from hinting verbally at the grand mathematical theories of “General Equilibrium” or the “Pareto Theorem," Smith’s assertion was confined to a modest quantitative arithmetical change in “annual revenue and employment." It concludes with comments on Claude Hillinger’s interesting, though ultimately flawed, version of Adam Smith’s supposed argument for “invisible hands."

Number of Pages in PDF File: 15

Keywords: invisible hand, metaphors, self-interest, rhetoric, Wealth of Nations

JEL Classification: B1, B23, B25, B41

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Date posted: November 11, 2012  

Suggested Citation

Kennedy, Gavin, A Response to Claude Hillinger's 'Adam Smith's Argument for the Existence of an Invisible Hand' (November 11, 2012). Available at SSRN: http://ssrn.com/abstract=2174027 or http://dx.doi.org/10.2139/ssrn.2174027

Contact Information

Gavin Kennedy (Contact Author)
Heriot-Watt University - Edinburgh Business School ( email )
Riccarton
Edinburgh, Scotland EH14 4AS
United Kingdom
0131 466 8535 (Phone)
HOME PAGE: http://www.adamsmithslostlegacy.blogspot.co.uk
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References:  11
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