This in exceptional article from Jag Bhalla on the IH metaphor.
It is the best I have seen, including all of my own.
It nails the nonsense written by generations of economists (and not a few politicians, even some theologians creeping superstitions into economics).
Read it and pass it on, plus its source at Scientific American, (they are due a Damascene experience) to your own contacts - and send it to your economic theory tutors and colleagues.Adam Smith's Lost Legacy
Jag Bhalla Nails the Myth of the Invisible Hand in Economics!
Gavin Kennedy
File this one for reference.
1 comment:
Comment I left there:
This is not a very original (or particularly clever) idea. The counter-argument is that the parts of our social system are *humans*, and there is no a priori reason why our skill at building better physical or biological systems should translate into an ability to build better "human particle" systems.
Saint-Simon, Fourier, and Marx asserted similar claims, and it didn't work out too well.
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