“The Invisible Hand”: A Myth or Reality

Penyu Mihailov
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Penyu Mihailov: University of National and World Economy, Sofia, Bulgaria

Godishnik na UNSS, 2008, issue 1, 45-74

Abstract: The paper dwells on different aspects of the “invisible hand”. A number of issues have been analyzed, i. e.: historical conditions for the emergence of the “invisible hand”; an attempt to set up a theoretical structure of the problem; the role and place of man in economics, i. e.: “homo economicus”; the morals of market economy and its controversial tendencies; the “invisible hand” as the state interference in the economy. The issue has been considered from a theoretical and methodological point of view and a number of offers have been addressed to the respective institutions, a bridge is built between the theoretical and the empirical knowledge.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:godish:y:2008:i:1:p:45-74

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