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invisible hand, metaphor, introduced by the 18th-century Scottish philosopher and economist Adam Smith, that characterizes the mechanisms through which beneficial social and economic outcomes may arise from the accumulated self-interested actions of individuals, none of whom intends to bring about.
The invisible hand is a metaphor inspired by the Scottish moral philosopher Adam Smith that describes the incentives which free markets often create for self-interested people to act in the public interest.
May 15, 2024 · The invisible hand is a metaphor for the unseen forces that move the free market economy. Learn how Adam Smith introduced the concept, how it works, and why it is controversial.
- Christina Majaski
- 2 min
Sep 16, 2022 · Learn what the invisible hand is, how it works, and how it affects the economy. The invisible hand is a metaphor coined by Adam Smith to describe the self-interested forces behind people's economic choices.
Learn how Adam Smith used the metaphor of the Invisible Hand to describe the self-regulating and cooperative nature of markets. Explore how the concept evolved and was applied by Hayek, Friedman, and Read, and how it was criticized by Marx and others.
May 20, 2018 · Learn how the invisible hand works in free markets and how Adam Smith used this concept in his books. Find out the implications, limitations and criticisms of the invisible hand theory.
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Oct 12, 2022 · Learn how Adam Smith's Invisible Hand theory explains how self-interest and competition can benefit society as a whole. Find out the limitations and criticisms of this concept in modern economics.
