The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth
In the article, the research approach of the history of economic thought was used to present the idea of economic development in the context of the invisible hand mechanism. The structure of the study consists of three parts. In the first one, a justification for the advisability of applying the his...
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| Format: | Article |
| Language: | English |
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Polish Economic Society
2025-06-01
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| Series: | Ekonomista |
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| Online Access: | https://ekonomista.pte.pl/Idea-rozwoju-gospodarczego-a-metafora-niewidzialnej-reki-Uwagi-dotyczace-interpretacji,196699,0,2.html |
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| author | Wojciech Giza Dariusz Grzybek |
| author_facet | Wojciech Giza Dariusz Grzybek |
| author_sort | Wojciech Giza |
| collection | DOAJ |
| description | In the article, the research approach of the history of economic thought was used to present the idea of economic development in
the context of the invisible hand mechanism. The structure of the study consists of three parts. In the first one, a justification for
the advisability of applying the historical analysis method was presented in order to analyze the examined problem. Furthermore,
the issue of economic development interpreted by A. Smith, was discussed. In the third part, the research showing how Smith’s
successors interpret the market was undertaken and it was inquired into why we still consider ideas rooted in classical political
economy to be an essential legacy of modern economics. |
| format | Article |
| id | doaj-art-640ca49f83b24eb7b65353aca25ce812 |
| institution | Kabale University |
| issn | 0013-3205 2299-6184 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Polish Economic Society |
| record_format | Article |
| series | Ekonomista |
| spelling | doaj-art-640ca49f83b24eb7b65353aca25ce8122025-08-20T03:28:10ZengPolish Economic SocietyEkonomista0013-32052299-61842025-06-01227829310.52335/ekon/196699196699The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birthWojciech Giza0https://orcid.org/0000-0002-6773-1372Dariusz Grzybek1https://orcid.org/0000-0003-0095-0260Instytut Ekonomii, Finansów i Prawa; Katedra Mikroekonomii, Uniwersytet Ekonomiczny w Krakowie, PolskaWydział Zarządzania i Komunikacji Społecznej; Instytut Spraw Publicznych, Uniwersytet Jagielloński, PolskaIn the article, the research approach of the history of economic thought was used to present the idea of economic development in the context of the invisible hand mechanism. The structure of the study consists of three parts. In the first one, a justification for the advisability of applying the historical analysis method was presented in order to analyze the examined problem. Furthermore, the issue of economic development interpreted by A. Smith, was discussed. In the third part, the research showing how Smith’s successors interpret the market was undertaken and it was inquired into why we still consider ideas rooted in classical political economy to be an essential legacy of modern economics.https://ekonomista.pte.pl/Idea-rozwoju-gospodarczego-a-metafora-niewidzialnej-reki-Uwagi-dotyczace-interpretacji,196699,0,2.htmlmarketmetaphoreconomicsadam smithinvisible hand |
| spellingShingle | Wojciech Giza Dariusz Grzybek The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth Ekonomista market metaphor economics adam smith invisible hand |
| title | The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth |
| title_full | The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth |
| title_fullStr | The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth |
| title_full_unstemmed | The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth |
| title_short | The idea of economic development and the metaphor of the invisible hand. Remarks on the interpretation of Adam Smith’s legacy on the tercentenary of his birth |
| title_sort | idea of economic development and the metaphor of the invisible hand remarks on the interpretation of adam smith s legacy on the tercentenary of his birth |
| topic | market metaphor economics adam smith invisible hand |
| url | https://ekonomista.pte.pl/Idea-rozwoju-gospodarczego-a-metafora-niewidzialnej-reki-Uwagi-dotyczace-interpretacji,196699,0,2.html |
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