Abstract

BARRERA-G., Rafael A.; GALLARDO, Alvaro  and  MUNOZ-DAGUA, Clarena. Smith's invisible hand. An approach from metaphorical analysis. Rev.econ.inst. [online]. 2023, vol.25, n.49, pp.87-108.  Epub Nov 02, 2023. ISSN 0124-5996.  https://doi.org/10.18601/01245996.v25n49.05.

The invisible hand of the market is the metaphor that founds the modern economy. Indeed, Adam Smith's reference in The Wealth of Nations to the self-regulation capacity of the market marks, in some way, the theoretical and practical developments of the economy. We use two interpretations of the invisible hand metaphor: unintended consequences and divine order, which lead us to reflect on the role of this metaphor in economic science. In this context, the article shows the potential and multifunctionality of the invisible hand of the market. Methodologically, the analysis proposed by Andrew Goatly on metaphor in discourse is used as a valuable resource to explain abstract concepts

JEL: B12, B31, Z13.

Keywords : Adam Smith; Invisible Hand; Metaphor.

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