The invisible hand is a concept introduced by economist Adam Smith. It refers to the self-regulating nature of markets where individual actions, driven by personal interests, contribute to overall ...

An economic theory written in Scotland in the years before the creation of the United States has guided advocates of capitalism for centuries. Adam Smith first coined the phrase “invisible hand” of ...

The concept of the invisible hand is one of the many contributions of the legendary Scottish philosopher and economist Adam Smith. In his book The Wealth of Nations, Smith wrote of a person who ...

The academic economist’s dry prose usually benefits from an evocative metaphor. But we would all be better off if Adam Smith had skipped the bit about “the invisible hand.” He meant little, if ...