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The Invisible Hand?: How Market Economies have Emerged and Declined Since AD 500 by Bas van Bavel (Paperback, 2019)

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The Invisible Hand? How Market Economies Have Emerged and Declined Since AD 500 by B. J. P. van Bavel 9780198820451 (Paperback, 2019) Delivery UK delivery is usually within 10 to 12 working days. International delivery varies by country, please see the Wordery store help page for details.

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The Invisible Hand? offers a radical departure from the conventional wisdom of economists and economic historians, by showing that 'factor markets' and the economies dominated by them - the market economies - are not modern, but have existed at various times in the past. They rise, stagnate, and decline; and consist of very different combinations of institutions embedded in very different societies. The Invisible Hand?, for the first time, draws together the historical evidence to analyze how and why market economies after some time all decline again. It shows how market economies are fundamentally incompatible with long-run prosperity, equity, and broad participation in decision-making. This study thus connects with the current debates about the future of capitalism and the causes and effects of inequality by thinkers such as Stiglitz, Krugman, and Piketty. It will interest all those who want to take a fresh look at these critical issues.