The Visible Hand:
by Francis W. Rushing
List Price: $35.00
Pub Date: 2000
Binding: Paper, 268 pages
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Private enterprise, which was so eloquently rationalized by Adam Smith and validated by economic progress still faces challenges which threaten its foundation. Some proclaimed the victory of the private enterprise system with the collapse of the Soviet Union, but in reality, the event reflected the failure of the socialist experiment. The critics of private enterprise are embedded in the political, social and economic fiber of all nations, and one of their agents of undermining private enterprise is the “visible hand” of government. This collection of essays addresses several challenges to the private enterprise system. The authors have chosen specific cases or areas of conflict to make the argument for market solutions to societal issues.
The body of this collection is broken into three sections: Philosophical Characteristics of Private Enterprise; Challenges to Private Enterprise; and Institutionalizing Entrepreneurship. The authors of the first section address such topics as the characteristics and culture of the market system, property rights and measuring economic freedom. The second sections has the authors looking at some continuing conflicts between individual and collectivist solutions to economic and social problems. The last section focuses on entrepreneurship and family business as driving forces in economic growth and prosperity, particularly in the United States.