View source for The Dismal Science: 'Seven Bad Ideas,' by Jeff Madrick/Invisible Hand

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[[Category:Paul Krugman]]
[[Category:Common Fallacies Of Economics]]
[[Category:Invisible Hand]]
{{Quote
| text = Adam Smith used the phrase “invisible hand” only once in “The Wealth of Nations,” and he probably didn’t mean to say what most people now think he said. But never mind: Today the phrase is almost always used to mean the proposition that market economies can be trusted to get everything, or almost everything, right without more than marginal government intervention.  Is this belief well grounded in theory and evidence? No.
| cite = [[Paul Krugman]], "{{Link |The Dismal Science: 'Seven Bad Ideas,' by Jeff Madrick}}"
}}