경제학사(History of Economic Thought) - Adam Smith's Invisible Hand 영문리포트 (아담 스미스의 보이지 않는 손)
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The most renowned, and arguably the greatest contributor to economics, Adam Smith (1723-1790) has set a new paradigm for the study of economics. Physiocrats, mercantilists, and classical economists have led the economic history until Smith turned the tables and started the era of “modern economics”, making himself the father of modern economics. He reformed the anthropologic basis for economic reasoning – and formalized, or “mathematicised” human behavior. By doing so, he reformulated the fundamental structures of human behavior and allowed economic reasoning to develop as an autonomous discipline different from all other social sciences. According to Smith’s principles, each and every individual is an economic subject that acts towards maximizing utility.
Two of his books, The Theory of Moral Sentiments, and The Wealth of Nations, are utilized today to deeply study the foundations of modern economics. In both books, Smith uses various metaphors to describe natural human behaviors affecting the economy, one of which is the invisible hand.
참고 자료
Smith, Adam. Wealth of Nations, edited by C. J. Bullock. Vol. X. The Harvard Classics. New York: P.F. Collier & Son, 1909–14; Bartleby.com, 2001.
Smith, Adam. The Theory of Moral Sentiments. Cambridge University Press. 2002; Knud Haakonssen, ed.
Offer, Avner. Discussion Papers in Economic and Social History August 2012; University of Oxford. http://www.nuff.ox.ac.uk/economics/history/Paper101/offer101.pdf
The Passion of Adam Smith: Self-Interest, Sympathy, and Societal Good
https://asociologist.com/2010/02/10/the-passions-of-adam-smith-self-interest-sympathy-and-societal-good/
Madrick, Jeff. How the Invisible Hand was Corrupted by Laissez Faire. http://evonomics.com/how-the-invisible-hand-was-corrupted-by-laissez-faire-economics/