The Hesitant Hand : : Taming Self-Interest in the History of Economic Ideas / / Steven G. Medema.
Adam Smith turned economic theory on its head in 1776 when he declared that the pursuit of self-interest mediated by the market itself--not by government--led, via an invisible hand, to the greatest possible welfare for society as a whole. The Hesitant Hand examines how subsequent economic thinkers...
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Place / Publishing House: | Princeton, NJ : : Princeton University Press, , [2009] ©2009 |
Year of Publication: | 2009 |
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Medema, Steven G., author. aut http://id.loc.gov/vocabulary/relators/aut The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / Steven G. Medema. Course Book Princeton, NJ : Princeton University Press, [2009] ©2009 1 online resource (248 p.) : 1 line illus. 1 table. text txt rdacontent computer c rdamedia online resource cr rdacarrier text file PDF rda Frontmatter -- Contents -- Acknowledgments -- Prologue -- 1. Adam Smith and His Ancestors -- 2. Harnessing Self-Interest -- 3. Marginalizing the Market -- 4. Marginalizing Government i -- 5. Coase's Challenge -- 6. Marginalizing Government II -- 7. Legal Fiction -- Epilogue. Everywhere, Self-Interest? -- References -- Index restricted access http://purl.org/coar/access_right/c_16ec online access with authorization star Adam Smith turned economic theory on its head in 1776 when he declared that the pursuit of self-interest mediated by the market itself--not by government--led, via an invisible hand, to the greatest possible welfare for society as a whole. The Hesitant Hand examines how subsequent economic thinkers have challenged or reaffirmed Smith's doctrine, some contending that society needs government to intervene on its behalf when the marketplace falters, others arguing that government interference ultimately benefits neither the market nor society. Steven Medema explores what has been perhaps the central controversy in modern economics from Smith to today. He traces the theory of market failure from the 1840s through the 1950s and subsequent attacks on this view by the Chicago and Virginia schools. Medema follows the debate from John Stuart Mill through the Cambridge welfare tradition of Henry Sidgwick, Alfred Marshall, and A. C. Pigou, and looks at Ronald Coase's challenge to the Cambridge approach and the rise of critiques affirming Smith's doctrine anew. He shows how, following the marginal revolution, neoclassical economists, like the preclassical theorists before Smith, believed government can mitigate the adverse consequences of self-interested behavior, yet how the backlash against this view, led by the Chicago and Virginia schools, demonstrated that self-interest can also impact government, leaving society with a choice among imperfect alternatives. The Hesitant Hand demonstrates how government's economic role continues to be bound up in questions about the effects of self-interest on the greater good. Issued also in print. Mode of access: Internet via World Wide Web. In English. Description based on online resource; title from PDF title page (publisher's Web site, viewed 30. Aug 2021) Business. Economic history. Economic policy History. Economic policy; History. Economics History. Economics; History. Free enterprise History. Free enterprise; History. BUSINESS & ECONOMICS / Economic History. bisacsh Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 9783110442502 print 9780691150000 https://doi.org/10.1515/9781400830770 https://www.degruyter.com/isbn/9781400830770 Cover https://www.degruyter.com/cover/covers/9781400830770.jpg |
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English |
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Medema, Steven G., Medema, Steven G., |
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Medema, Steven G., Medema, Steven G., The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / Frontmatter -- Contents -- Acknowledgments -- Prologue -- 1. Adam Smith and His Ancestors -- 2. Harnessing Self-Interest -- 3. Marginalizing the Market -- 4. Marginalizing Government i -- 5. Coase's Challenge -- 6. Marginalizing Government II -- 7. Legal Fiction -- Epilogue. Everywhere, Self-Interest? -- References -- Index |
author_facet |
Medema, Steven G., Medema, Steven G., |
author_variant |
s g m sg sgm s g m sg sgm |
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VerfasserIn VerfasserIn |
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Medema, Steven G., |
title |
The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / |
title_sub |
Taming Self-Interest in the History of Economic Ideas / |
title_full |
The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / Steven G. Medema. |
title_fullStr |
The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / Steven G. Medema. |
title_full_unstemmed |
The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / Steven G. Medema. |
title_auth |
The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / |
title_alt |
Frontmatter -- Contents -- Acknowledgments -- Prologue -- 1. Adam Smith and His Ancestors -- 2. Harnessing Self-Interest -- 3. Marginalizing the Market -- 4. Marginalizing Government i -- 5. Coase's Challenge -- 6. Marginalizing Government II -- 7. Legal Fiction -- Epilogue. Everywhere, Self-Interest? -- References -- Index |
title_new |
The Hesitant Hand : |
title_sort |
the hesitant hand : taming self-interest in the history of economic ideas / |
publisher |
Princeton University Press, |
publishDate |
2009 |
physical |
1 online resource (248 p.) : 1 line illus. 1 table. Issued also in print. |
edition |
Course Book |
contents |
Frontmatter -- Contents -- Acknowledgments -- Prologue -- 1. Adam Smith and His Ancestors -- 2. Harnessing Self-Interest -- 3. Marginalizing the Market -- 4. Marginalizing Government i -- 5. Coase's Challenge -- 6. Marginalizing Government II -- 7. Legal Fiction -- Epilogue. Everywhere, Self-Interest? -- References -- Index |
isbn |
9781400830770 9783110442502 9780691150000 |
callnumber-first |
H - Social Science |
callnumber-subject |
HB - Economic Theory and Demography |
callnumber-label |
HB95 |
callnumber-sort |
HB 295 M43 42009 |
url |
https://doi.org/10.1515/9781400830770 https://www.degruyter.com/isbn/9781400830770 https://www.degruyter.com/cover/covers/9781400830770.jpg |
illustrated |
Illustrated |
dewey-hundreds |
300 - Social sciences |
dewey-tens |
330 - Economics |
dewey-ones |
330 - Economics |
dewey-full |
330.1 |
dewey-sort |
3330.1 |
dewey-raw |
330.1 |
dewey-search |
330.1 |
doi_str_mv |
10.1515/9781400830770 |
oclc_num |
979970204 |
work_keys_str_mv |
AT medemasteveng thehesitanthandtamingselfinterestinthehistoryofeconomicideas AT medemasteveng hesitanthandtamingselfinterestinthehistoryofeconomicideas |
status_str |
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ids_txt_mv |
(DE-B1597)453679 (OCoLC)979970204 |
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cr |
hierarchy_parent_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
is_hierarchy_title |
The Hesitant Hand : Taming Self-Interest in the History of Economic Ideas / |
container_title |
Title is part of eBook package: De Gruyter Princeton University Press eBook-Package Backlist 2000-2013 |
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fullrecord |
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