Autumn 2014 | Public lectures and events | Audio and pdf

The Real Story Behind the Invisible Hand


Listen Later

Contributor(s): Russell Roberts | Adam Smith gave the world the metaphor of the invisible hand, the most famous metaphor of economics. But he only used the phrase three times in his writings. And none of the uses reflect what the phrase has come to mean today--a justification of laissez-faire capitalism. Yet Smith is indeed a key figure in the idea of emergent order--order that is the result of human action but not human design. Ironically, his richest explanation of that concept may be found in his little-known masterpiece, The Theory of Moral Sentiments. His application there is not to our economic system, but to the very idea of civilization and culture. This talk explores Smith's concept of emergent order and its relevance for our conduct today and its potential to let all of us help to make the world a better place. Russell Roberts (@EconTalker), author of How Adam Smith Can Change Your Life, is a research fellow at Stanford University's Hoover Institution and the host of EconTalk, a weekly hour-long award-winning podcast. Previously, he was a professor of economics at George Mason University and founding director of the Center for Experiential Learning at the John M. Olin School of Business at Washington University. Credits: Tom Sturdy (Audio Post-Production), LSE AV Services (Audio Recording).
...more
View all episodesView all episodes
Download on the App Store

Autumn 2014 | Public lectures and events | Audio and pdfBy London School of Economics and Political Science


More shows like Autumn 2014 | Public lectures and events | Audio and pdf

View all
Summer 2009 | Public lectures and events | Audio and pdf by London School of Economics and Political Science

Summer 2009 | Public lectures and events | Audio and pdf

0 Listeners

Autumn 2010 | Public lectures and events | Audio and pdf by London School of Economics and Political Science

Autumn 2010 | Public lectures and events | Audio and pdf

1 Listeners

Department of Philosophy, Logic and Scientific Method by London School of Economics and Political Science

Department of Philosophy, Logic and Scientific Method

1 Listeners

Department of International Relations by London School of Economics and Political Science

Department of International Relations

1 Listeners

Latest 300 | LSE Public lectures and events | Audio and pdf by London School of Economics and Political Science

Latest 300 | LSE Public lectures and events | Audio and pdf

2 Listeners

Latest 300 | LSE Public lectures and events | Video by London School of Economics and Political Science

Latest 300 | LSE Public lectures and events | Video

0 Listeners

Spring 2014 | Public lectures and events | Audio and pdf by London School of Economics and Political Science

Spring 2014 | Public lectures and events | Audio and pdf

0 Listeners

Latest 300 | LSE Public lectures and events | Audio and pdf by London School of Economics and Political Science

Latest 300 | LSE Public lectures and events | Audio and pdf

2 Listeners

The Ballpark by London School of Economics and Political Science

The Ballpark

0 Listeners

LSE IQ by London School of Economics and Political Science

LSE IQ

0 Listeners