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Reviving the Invisible Hand:
The Case for Classical Liberalism in the Twenty-first Century
Deepak Lal

Book Description | Table of Contents
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"This book gives a coherent and lucid account of classical liberal theory and argues a case for reviving the invisible hand. Lal's stands on 'trickle down' effect, relevance of the IMF, World Bank and the WTO, genetically modified food and government interventions to achieve equity are contentious. I hope this book generates informed public debates on these issues."--U. Sankar, The Hindu

"An erudite and spirited defense of the only approach to public policy that has brought mankind sustained economic growth, widespread alleviation of poverty, and embedded respect for the worth and dignity of the individual."--Economic Affairs

"A wide ranging and spirited defense of classical liberalism as an organizing principle for the economic affairs of the world.... Provides a nice blend of personal anecdote, literature review, economic argumentation, and broad empirical evidence."--Douglas Irwin, Journal of Economic Literature

"Deepak Lal's Reviving the Invisible Hand, an uncompromising and insightful defense of the classical-liberal case for laissez-faire capitalism and free trade that should be on every liberal's shelf. It begins with a brief history of capitalism, explains its fundamental principles, examines the threats it faces, and proposes ways in which the threats may be met intellectually and politically. Capitalism's great enemy, socialism, is thought by many to be dead, but as Lal shows, dirigisme is alive and well. The book is crammed with facts, broad-brush accounts, nuanced technical arguments, brutal critiques, and bold prophecies. Themes are interwoven and repeated. The author apparently aimed to stamp out every misconception about capitalism . . . in a single book. This . . . offers the reader an encyclopedic amount of material within a medium size volume."--Suri Ratnapala, Independent Institute

"This is a thoughtful, well-researched and challenging book. It has a deep historical perspective and offers a broad coverage of the continuing battles between regulation and deregulation, free and managed trade, and between liberty and equality."--Adrian Davies, Long-Range Planning

"[E]ntertaining to read. . . . Anyone seeking relief from the smarmier-thall-thou politics of our day will find this an agreeably provocative book."--George Walden, Seven


"What would Adam Smith and David Hume have had to say about globalization, human rights, outsourcing and free trade, capital controls, the WTO, the IMF and the World Bank, Islamic fundamentalism, the rise of China and India, the environment, the welfare state, U.S. foreign policy, and every other major issue if they were alive today? The closest you can ever come to finding out is to read this brilliant and provocative book by the last, but by no means the least, of the classical liberals, Deepak Lal."--Ronald E. Findlay, Columbia University

"This splendidly and subtly argued defense of the classical liberal position makes a highly valuable contribution to the globalization debate."--Harold James, Princeton University, author of The End of Globalization

"Deepak Lal's Reviving the Invisible Hand is a brilliant account of modern economic theory and policy written from a rigorous classical liberal perspective. Lal shows a thorough knowledge of classical liberal theory and an enviable ability to apply it to any economy. Furthermore, he demonstrates that the greatest threat to world economic progress and stability comes not from old-fashioned socialism, but from the recent, fashionable modifications of the classical liberal model. It is remarkable that a technical economist should display such competence and originality in areas seemingly far removed from the diagrams and equations of orthodoxy. And his style is rigorous, well-paced, and just a little cheeky."--Norman Barry, University of Buckingham, England, author of Classical Liberalism in the Age of Post-Communism

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File created: 4/21/2017

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