Cantillon, the Invisible Hands, and the Economic Crisis
This article in the Independent by Brendan Keenan addresses the issue of blame for the economic crisis. He just about gets it right. The Invisible Hand of government (aka Central Banks) was acting to deceive the Invisible Hand of the marketplace. This is the topic for my lecture for tomorrow’s conference at the Mises Institute. He also draws the connection between Richard Cantillon’s economic analysis as the foundation of Adam Smith’s invisible hand which I first pointed out here. Cantillon discovered how the invisible hand of the marketplace works. Smith just provided a rhetorically successful title.