In his Idea of Justice, Amartya Sen compares the two basic approaches to evaluate institutions, transcendental institutionalism and realization-focused comparisons. Referring to Smith's Impartial Spectator, he argues in favour of the latter and proposes the principle of Open Impartiality....

In his Idea of Justice, Amartya Sen compares the two basic approaches to evaluate institutions, transcendental institutionalism and realization-focused comparisons. Referring to Smith's Impartial Spectator, he argues in favour of the latter and proposes the principle of Open Impartiality....

The May 2009 issue of this journal featured a two-part exchange between myself and Daniel Klein on the meaning and significance of the expression “invisible hand†in the writings of Adam Smith. In his comment on my piece, Klein imputed much larger, and, in my view, extraneous meaning...