Karl Mittermaier thought there were many different “invisible hands,” as many as there were forms of the “visible hand” institutional context. He is underappreciated because many of the later conclusions credited to the “New Institutional Economists” can be found, in nascent form, in Mittermaier’s work in the late 1970s. But the work has only recently been published, opening up new opportunities to consider Mittermaier’s insights.

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