Beyond the invisible hand

One of the main provisions of mainstream economic science is the approval of Adam Smith, which under certain conditions the behavior of individuals pursuing their own interests leads to a common good as if they are sent to him an invisible hand. Over the past two centuries, this idea was often pulled out of the context, distorted and used as the foundation of the market orthodoxy. In his book, Kausik Basu claims that the mainstream economic science and its conservative popularizers distorted the idea of ​​Smith and prevented our understanding of how the economy works, why some economies crash, and others succeed, and what nature and the role of state intervention may be. Comparing this idea of ​​an invisible hand with a painting painted by Kafka, when individuals pursuing their atomistic interests create a gloomy and unsightly world, bass calls for collective actions and the need to build a fair, and not just an effective society