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t. e. The invisible hand is a metaphor inspired by the Scottish economist and moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to act unintentionally in the public interest. Smith originally mentioned the term in two specific, but different, economic examples.
In economics the "visible hand" is generally considered to be the macro-fiscal policy of John Keynes that emerged in the 1930s as a remedy for the shortcomings of Adam Smith 's "invisible hand" and advocated government intervention in the economy. [4] Actually, Smith already identified the disadvantages of the "invisible hand". [5]
Heideggerian terminology. Martin Heidegger, the 20th-century German philosopher, produced a large body of work that intended a profound change of direction for philosophy. Such was the depth of change that he found it necessary to introduce many neologisms, often connected to idiomatic words and phrases in the German language.
9780674940529. The Visible Hand: The Managerial Revolution in American Business is a book by American business historian Alfred D. Chandler Jr., published by the Belknap Press imprint of Harvard University Press in 1977. Chandler argues that in the nineteenth century, Adam Smith's invisible hand was supplanted by the " visible hand" of middle ...
Red thread of fate. The Red Thread of Fate (Chinese: 姻緣紅線; pinyin: Yīnyuán hóngxiàn), also referred to as the Red Thread of Marriage, and other variants, is an East Asian belief originating from Chinese mythology. [1][2] It is commonly thought of as an invisible red cord around the finger of those that are destined to meet one ...
Collective action problem. A collective action problem or social dilemma is a situation in which all individuals would be better off cooperating but fail to do so because of conflicting interests between individuals that discourage joint action. [1][2][3] The collective action problem has been addressed in political philosophy for centuries ...
The Vanishing Hand theory is a concept first conceived of by economist Richard Normand Langlois. The term is an intentional play on both Adam Smith's invisible hand and Alfred Chandler's Visible Hand. Background. In Smith's work, his invisible hand describes the self-regulating behavior of the market.
Invisible ink. A coded letter from Benedict Arnold, originally written in invisible ink. Handwriting by Peggy Shippen Arnold is interspersed with coded communication in Arnold's hand. Invisible ink, also known as security ink or sympathetic ink, is a substance used for writing, which is invisible either on application or soon thereafter, and ...
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