David S. Wilson — The Invisible Hand is Dead! Long Live the Invisible Hand!

You might think that the old King should be replaced by no King. After all, the metaphor of the invisible hand did not loom very large in Smith’s thought; why should it loom large in ours? It turns out, however, that a robust concept of the invisible hand does emerge from evolutionary and complexity theory, so there is a new King to coronate.

Replacing the mechanical model in econ with an organic model.

Evonomics

The Invisible Hand is Dead! Long Live the Invisible Hand!

David S. Wilson | SUNY Distinguished Professor of Biology and Anthropology at Binghamton University and Arne Næss Chair in Global Justice and the Environment at the University of Oslo