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2006•Journal of Hunan University of Arts and ScienceRequires access

The Advantages and Disadvantages of Adam Smith's "An Invisible Hand"

Nie Wen

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Abstract

“An invisible hand” is an important argument by which the Classical Economics had proved the superiority of capitalism's commodity economy,for Adam Smith,“An invisible hand” realizes the harmony and unity of individuals' interest and social interest,it has indescribable values,but also it has the unequalities in the processing and the results,it has the temporary equality of history.

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“An invisible hand” is an important argument by which the Classical Economics had proved the superiority of capitalism's commodity economy,for Adam Smith,“An invisible hand” realizes the harmony and unity of individuals' interest and social interest,it has indescribable values,but also it has the unequalities in the processing and the results,it has the temporary equality of history.

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Available abstract

“An invisible hand” is an important argument by which the Classical Economics had proved the superiority of capitalism's commodity economy,for Adam Smith,“An invisible hand” realizes the harmony and unity of individuals' interest and social interest,it has indescribable values,but also it has the unequalities in the processing and the results,it has the temporary equality of history.

Key concepts: Invisible hand, Adam smith, Capitalism, Neoclassical economics, Argument (complex analysis), Commodity, Economics, Harmony (color)

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