Ep. 74 Law and Leviathan with Adrian Vermeule & Why Liberalism Failed with Patrick Deneen
Conversations with Consequences
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The Invisible Hand Theory
Adam Smith embedded the invisible hand in an exclusively providentialist account of society. The modern devotees of the invisible hand theory really are faith-based, he says. There's no mechanism that ensures they will pan out and there's no real evidence to think that they do pan out. "The invisible hand rests on nothing but a misplaced faith"
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Transcript
