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Adam Smith’s landmark treatise on the free market paved the way for modern capitalism, arguing that competition is the engine of a productive society, and that self-interest will eventually come to enrich the whole community, as if by an ‘invisible hand’. Throughout history, some books have changed the world. They have transformed the way we see ourselves – and each other. They have inspired debate, dissent, war and revolution. They have enlightened, outraged, provoked and comforted. They have enriched lives – and destroyed them. Now Penguin brings you the works of the great thinkers, pioneers, radicals and visionaries whose ideas shook civilization and helped make us who we are.
Adam Smith’s landmark treatise on the free market paved the way for modern capitalism, arguing that competition is the engine of a productive society, and tha
Why economics needs to focus on fairness and not just efficiency One of the central tenets of mainstream economics is Adam Smith's proposition that, given certa
The Invisible Hand? offers a radical departure from the conventional wisdom of economists and economic historians, by showing that 'factor markets' and the econ
Available Open Access under CC-BY-NC-ND Made famous by the Enlightenment thinker Adam Smith, the concept of an ‘invisible hand’ might be taken to imply that
Originally written for a conference of the Federal Reserve, Gary Gorton's "The Panic of 2007" garnered enormous attention and is considered by many to be the mo