Adam Smith’s Invisible Foot

This week’s “intriguing passage” comes by way of Ashwin Parameswaran’s blog on macroeconomics, Macroeconomic Resilience. In his post “Evolvability, Robustness, and Resilience in Complex Adaptive Systems” Parameswaran finds reason to quote economist Joseph Berliner’s book, The Innovation Decision in Soviet Industry. Said Berliner: “Adam Smith taught us to think of competition as an “invisible hand” […]

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