“The Invisible Hand viewed and reviewed” by Edna Ullmann-Margalit

“The Invisible Hand viewed and reviewed” by Edna Ullmann-Margalit

Here are highlights from Edna Ullmann-Margalit’s review of my book:

“The book’s choice of the topic with which economists and philosophers could start engaging each other cannot be improved on. The notion of the invisible hand, and the type of explanations it gives rise to, of social patterns of behavior as unintended consequences of individual actions and interactions, are just right for the cross-fertilization between a variety of philosophical fields, prominently including the philosophy of science, on one side, and economic theory, prominently including game theory, on the other. Moreover, the experience of reading this book leaves the reader feeling that the choice of author for this undertaking can hardly be improved on either.

Trained both in economics and in philosophy, Emrah Aydinonat has formal and technical skills as well as a historical sensibility and a keen intellectual curiosity, and he has the tenacity to go on digging for gem-stones where previous visitors to the same terrain seem content with surface pebbles. Setting himself the task of developing a framework capable of making sense of the marketplace of extant models, and then to use this framework to ‘gain new insights into the contemporary literature that characterizes institutions and macro-social structures as unintended consequences of human action’ (p. 7), he has produced a book that is pleasingly disciplined and well organized.”

“Aydinonat’s book provides a historical context in which the notion of the invisible hand emerged, and analyzes the concepts and the distinctions behind this notion at such a high resolution that no scholar is likely to revisit this territory ever again. Any and every future discussion of the invisible hand – and there are sure to be such – will from now on make the obligatory reference to this book and simply take off from it.”

Of course, I have only quoted the nice parts. In order to read to full review you need download it:
“The Invisible Hand viewed and reviewed” Edna Ullmann-Margalit, Journal of Economic Methodology, http://dx.doi.org/10.1080/13501780903542870

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