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The Invisible Hand of the Market: The Theory of Moral Sentiments/The Wealth of Nations by Adam Smith. 68 ratings, 4.04 average rating, 3 reviews. Open Preview. The Invisible Hand of the Market Quotes Showing 1-2 of 2. “This self-deceit, this fatal weakness of mankind, is the source of half the disorders of human life.
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.
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In Moral Sentiments, he suggests that “The rich … are led by an Invisible Hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants.” In other words, they “share the wealth” despite themselves.
They are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species.
Jul 14, 2019 · In economics, the invisible hand is a metaphor used by Adam Smith to describe unintended social benefits resulting from individual actions. CONTENT : A - F , G - L , M - R , S - Z , See also , External links.
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.
May 15, 2024 · The term "invisible hand" first appeared in Adam Smith's famous work "The Wealth of Nations" to describe how free markets can motivate individuals, acting in their own self-interest, to...
