Guiding the Invisible Hand: Economic Liberalism and the State in Latin American History. Edited by Joseph L. Love and Nils Jacobsen. (New York: Praeger Publishers, 1988. Pp. x, 222. Bibliography. Index. $38.95.)

1992 ◽  
Vol 48 (4) ◽  
pp. 554-556
Author(s):  
Héctor Lindo-Fuentes
Keyword(s):  
New York ◽  
Latin American ◽  
American History ◽  
The State ◽  
Invisible Hand ◽  
Latin American History ◽  
Economic Liberalism ◽  
The Invisible

Markt und Staat bei Adam Smith

2010 ◽  
Vol 59 (2) ◽  
Author(s):  
Johannes Treu
Keyword(s):  
Economic System ◽  
Adam Smith ◽  
The State ◽  
Price System ◽  
Invisible Hand ◽  
Economic Liberalism ◽  
Price Process ◽  
Free Function ◽  
The Invisible

AbstractThe name of Adam Smith is always associated with the development of the invisible hand, the differentiation of labour and with the foundation of the economic liberalism, so that his book the Wealth of Nation is still in fashion. Based on the criticism of mercantilism system Smith develops his own economic system. Furthermore this economic system is more than pure discretion, it is also instruction which role the market and the state have to fulfil. Smith attributes to the market his famous role, the free function of the price system. Whereas the function of the state is limited to three tasks and no intervention into the market or price process are allowed.

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