Failures of the “Invisible Hand”

Rafi Amir-ud-Din and Asad Zaman

Forum for Social Economics, 2016, vol. 45, issue 1, 41-60

Abstract: Despite many failures of the invisible hand both empirically and theoretically, it continues to be vigorously asserted and widely believed. We document the failures and explain why it continues to be asserted despite these failures.

Date: 2016
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DOI: 10.1080/07360932.2015.1019536

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