This Book is in Good Condition. Clean Copy With Light Amount of Wear. 100% Guaranteed. Summary: Winner of the 2010 Best Book Prize, European Society for the History of Economic Thought. Bookseller Inventory #
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.
From the Back Cover:
"Riveting. This is an outstanding book. The Hesitant Hand is interesting, scholarly, balanced, and very well-written. I learned a great deal."--Denis O'Brien, professor emeritus, Durham University
"This is a wonderfully clear book that will attract a lot of readers, especially among economists who do not normally consider history relevant to their concerns. Medema tells the story of how our understanding of government and the market has been changed as economists have relentlessly applied the self-interest model."--Roger E. Backhouse, University of Birmingham
Book Condition: Used
Book Description Princeton University Press. Paperback. Condition: As New. An apparently unread copy in perfect condition. Dust cover is intact; pages are clean and are not marred by notes or folds of any kind. At ThriftBooks, our motto is: Read More, Spend Less. Seller Inventory # G0691150001I2N00
Book Description Condition: VeryGood. Seller Inventory # 23MA3O00AW0C
Book Description Princeton University Press. PAPERBACK. Condition: Very Good. 0691150001 crisp clean w/light shelfwear/edgewear - may have remainder mark. Seller Inventory # Z0691150001Z2
Book Description Condition: New. Seller Inventory # 23MA3O009MW1
Book Description Princeton University Press, 2011. Condition: Good. A+ Customer service! Satisfaction Guaranteed! Book is in Used-Good condition. Pages and cover are clean and intact. Used items may not include supplementary materials such as CDs or access codes. May show signs of minor shelf wear and contain limited notes and highlighting. Seller Inventory # 0691150001-2-4
Book Description Princeton University Press, 2011. Paperback. Condition: Used: Good. Seller Inventory # SONG0691150001
Book Description Princeton University Press, 2011. Condition: New. book. Seller Inventory # M0691150001
Book Description Princeton University Press, 2011. Paperback. Condition: New. Reprint. Seller Inventory # DADAX0691150001
Book Description Princeton University Press, 2011. PAP. Condition: New. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Seller Inventory # WP-9780691150000
Book Description Princeton University Press 2011-03-06, Princeton, N.J. |Woodstock, 2011. paperback. Condition: New. Seller Inventory # 9780691150000