Sunday, September 13, 2009

Adam Smith was WRONG about the invisible hand

http://georgewashington2.blogspot.com/2009/09/leading-financial-modeling-expert-adam.html

This links to an explanation of why Adam Smith was wrong about the invisible hand. I don't think one needs a mathematical explanation to see that beneficent results do not necessarily stem from the pursuit of individual self interest. Still, the article is interesting.

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