Adam Smith's invisible hand does exist, but as an emergent … - David Orrell

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Adam Smith's invisible hand does exist, but as an emergent property of a complex system. It has a fuzzy tendency to reduce big price discrepancies, but it acts in a rather haphazard way.

David Orrell

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About David Orrell

David John Orrell (born 1962 in Edmonton) is a Canadian mathematician and author who is living in Oxford, England. He received his doctorate in mathematics from the University of Oxford.

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Alternative Names: David John Orrell

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Steve Keen John Komlos Joan Robinson John Kenneth Galbraith John Maynard Keynes

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Mathematics was not just about keeping track of were the moon was going, but also where the money was going.

Perfect order is boring, perfect randomness is boring, but complex systems are interesting.

If the aim of economics is really to provide the greatest happiness to the most people, than it is rather shocking to discover that economic growth has no net effect on happiness. So what has gone wrong with the neoclassical prospect?

Adam Smith's invisible hand does exist, but as an emergent property of a complex system. It has a fuzzy tendency to reduce big price discrepancies, b… - David Orrell

About David Orrell

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