A couple of comments/questions:
First, are there definitions of the following that distinguish them and
show their relation: unintended consequences, invisible hand, and
spontaneous order (and, one might even add here, 'macroeconomic
paradoxes' such as the paradox of thrift)? I have always wondered
whether, e.g., the invisible hand and macroeconomic paradoxes are
examples of some more general phenomenon, such as unintended
consequences. There doesn't seem to be any a priori reason that these
phenomena must be either socially beneficial or costly, does there?
Second, as far as I know, and if anyone knows more about all this I
would appreciate any leads or hints, Michael Polanyi coined the term
spontaneous order in the 1930s in Manchester. At that time, he and his
colleague at Manchester, Adolph Lowe, were engaged in private and public
professional communications on a number of issues, and Lowe started
using the term "spontaneous conformity." I have an intuition that this
cannot be a coincidence, but I do not have any proof of which term came
first, who influenced whom, etc. I visited Manchester in 1999 and
searched the archives at the university, not much on Lowe, more on
Polanyi, all pretty disorganized, but besides some interesting
correspondence and some book reviews I hadn't seen before, I came up
with zilch. Anybody know anything?
Shameless self-promotion...people might be interested in a paper I
wrote:
"Must Spontaneous Order Be Unintended?: Exploring the Possibilities for
Consciously Enhancing Creative Discovery and Imaginative
Problem-Solving," in H. S. Jensen, L. M. Richter, and M. T. Vendelo
(eds.): THE EVOLUTION OF SCIENTIFIC KNOWLEDGE, Edward Elgar, 2003.
Thanks,
Mathew Forstater
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