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Volume 3  Number 1  •  Summer 1998
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Is the Study of Complex Adaptive Systems Going to Solve the Mystery of Adam Smith’s “Invisible Hand”?
By Sreekala Kochugovindan, Nicolaas J. Vriend
This article appeared in the Summer 1998 issue of The Independent Review

Ever since Adam Smith invoked the imagery of an invisible hand to describe how private interest is turned into public gain, economists have been touting the social merits of the marketplace. But not until recently have we begun to see the possibility of fully understanding the underlying interactive processes that coordinate decentralized economies.