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Commentary on Alan Greenspan's declaration at the Adam Smith Memorial Lecture

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  1. The current economic climate
  2. The basic position of Alan Greenspan's lecture
  3. The invisible hand

The current economic climate is considered to be bleak. There is a general sentiment of blame and anger towards individuals and institutions who partook in profiteering without any regard of consequence or fiduciary duty. Many people worked towards fulfilling their own self-interests at the expense of others and eventually to the detriment of the global economy. Is this the "invisible hand" at work? Upon reflection do Adam Smith, Butcher, Baker and Brewer still share a mutually beneficial relationship by working to realize their respective self-interests. This reflection consequentially leads us to question the relevance of Alan Greenspan's lecture "Adam Smith's invisible hand still delivers the goods".

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