Academic

Book Announcement: The Hesitant Hand by Medema

By Lawrence Solum

The Hesitant Hand: Taming Self-Interest in the History of Economic Ideas
Steven G. Medema

Winner of the 2010 Best Book Prize, European Society for the History of Economic Thought

To read the entire book description or a sample chapter, please visit: http://press.princeton.edu/titles/8899.html

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.

"Adam Smith's 'invisible hand' and the notion that self-interest can be best tamed by market interaction have been the center of policy disputes since the late 18th century. . . . Medema chronicles the linkages between the debates of Smith's time and those of today. . . . Highly recommended."--R. B. Emmett, Choice

Paper | $24.95 / £16.95 | ISBN: 978-0-691-15000-0
Cloth | 2009 |$35.00 / £24.95 | ISBN: 978-0-691-12296-0
e-Book | $24.95 | ISBN: 978-1-4008-3077-0

Full post as published by Legal Theory Blog on March 16, 2011 (boomark / email).