The Idea of Economic Development and the Metaphor of the Invisible
Hand. Remarks on the interpretation of Adam Smith’s Legacy on the
Tercentenary of his Birth Cover Image

Idea rozwoju gospodarczego a metafora niewidzialnej ręki. Uwagi dotyczące interpretacji dziedzictwa Adama Smitha w trzechsetną rocznicę urodzin
The Idea of Economic Development and the Metaphor of the Invisible Hand. Remarks on the interpretation of Adam Smith’s Legacy on the Tercentenary of his Birth

Author(s): Wojciech Giza, Dariusz Grzybek
Subject(s): Economic history
Published by: Instytut Nauk Ekonomicznych Polskiej Akademii Nauk
Keywords: Market; Metaphor; Economics; Adam Smith; Invisible Hand;

Summary/Abstract: In the article, the research approach of the history of economic thought was used to present the idea of economic developmentin the context of the invisible hand mechanism. The structure of the study consists of three parts. In the first one, a justificationfor the advisability of applying the historical analysis method was presented in order to analyze the examined problem. Furthermore,the issue of economic development interpreted by A. Smith, was discussed. In the third part, the research showing how Smith’ssuccessors interpret the market was undertaken and it was inquired into why we still consider ideas rooted in classical politicaleconomy to be an essential legacy of modern economics.

  • Issue Year: 2025
  • Issue No: 2
  • Page Range: 278-293
  • Page Count: 16
  • Language: Polish
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