Bernard Mandeville and the Fable of the Bees
On November 15, 1670, Dutch philosopher, political economist and satirist Bernard Mandeville was born. He became famous for The Fable of the Bees, a satire that suggests many key principles of economic thought, including division of labor and the “invisible hand“, seventy years before these concepts were more thoroughly elucidated by Adam Smith. “They that examine into the Nature of Man, abstract from Art and Education, may observe, that what renders him…
Read more
