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As against the "invisible hand" of Adam Smith, there has to be a visible hand of politicians whose objective is to have the kind of society that is caring and humane.
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Part 3, 1974 - 1979 Victory And Defeat, p. 190

 

Pierre Trudeau

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If I were five-and-twenty or thirty, instead of, unhappily, twice that number of years, I would take Adam Smith in hand—I would not go beyond him, I would have no politics in it—I would take Adam Smith in hand, and I would have a League for free trade in Land just as we had a League for free trade in Corn. You will find just the same authority in Adam Smith for the one as for the other; and if it were only taken up as it must be taken up to succeed, not as a political, revolutionary, Radical, Chartist notion, but taken up on politico-economic grounds, the agitation would be certain to succeed; and if you apply free trade in land and to labour too—that is, by getting rid of those abominable restrictions in your parish settlements, and the like—then, I say, the men who do that will have done for England probably more than we have been able to do by making free trade in corn.

 

Richard Cobden

 

The theories that I (and others) helped develop explained why unfettered markets often not only do not lead to social justice, but do not even produce efficient outcomes. Interestingly, there has been no intellectual challenge to the refutation of Adam Smith’s invisible hand: individuals and firms, in the pursuit of their self-interest, are not necessarily, or in general, led as if by an invisible hand, to economic efficiency. The only question that has been raised concerns the ability of government to remedy the deficiencies of the market. Within academia, a significant fraction of economists are involved with developing and expanding on the ideas of imperfect information (and imperfect markets) that I explored. For instance, Edmund Phelps, this year’s Nobel Prize winner, belongs to this "school" of thought. But in political discourse, simplistic “market fundamentalism” continues to exert enormous influence.

 

Joseph E. Stiglitz

 

But the net effect of increasing scale, centralization of capital, vertical integration and diversification within the corporate form of enterprise has been to replace the 'invisible hand' of the market by the 'visible hand' of the managers.

 

David (geographer) Harvey

 

It's a real shame that only Mr. Chomsky's tedious harangues against America get any attention. His body of work deserves more serious treatment. The interesting yet overlooked aspects of his political philosophy cannot easily fit into the left-right dichotomy. What makes Mr. Chomsky unique is that his criticism of the capitalist economic order takes its point of departure from the classical liberal thinkers of the Enlightenment. His heroes are not Lenin and Marx but Adam Smith and Wilhelm von Humboldt. He argues that the free market envisaged by these thinkers has never materialized in the world and that what we have gotten instead is a collusion of the state with private interests. Moreover he has repeatedly stressed that the attacks on democracy and the market by the big multinationals go hand in hand. The rich, he claims, echoing Adam Smith, are too keen to preach the benefits of market discipline to the poor while they reserve for themselves the right to be bailed out by the state whenever the going gets rough. As he puts it: "The free market is socialism for the rich. Markets for the poor and state protection for the rich." He has spoken positively about the work of Peruvian liberal economist Hernando De Soto who sees the problem of poverty in the Third World as being related to the fact that the poor usually lack clearly defined property rights.

 

Noam Chomsky

 

"You guessed? You must have been pretty sure, considering you could have killed me."
"I was ninety percent sure."
"I see," Clary said.
There must have been something in her voice, because he turned to look at her. Her hand cracked across his face, a slap that rocked him back on his heels. He put his hand to his cheek, more in surprise than pain. "What the hell was that for?"
"The other ten percent."

 

Cassandra Clare