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Subject:
HES: Re: DISC--Smith and Invisible Hand
From:
[log in to unmask] (Eric Schliesser)
Date:
Tue Mar 11 09:17:28 2008
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Tony Brewer is absolutely correct. My (relatively minor) disagreement with him is that in the invisible hand passage in TMS, Smith is making a counterfactual claim. The problem is figuring out what the relevant baseline is, and what the relevant alternative is.

Eric Schliesser

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