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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. Smith originally mentioned the term only in specific examples.
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
Learn about the invisible hand, a metaphor coined by Adam Smith to explain how self-interested actions can benefit society. Explore how Smith used the idea in his works and how it has been applied in economics and other fields.
Sep 16, 2022 · Learn what the invisible hand is and how it affects the free market. The invisible hand is a metaphor for the self-interested forces that impact consumers' economic choices and the economy as a whole.
May 20, 2018 · Learn how the invisible hand works in free markets and how it relates to Adam Smith's theory of self-interest and social welfare. Explore the implications, limitations and criticisms of the invisible hand concept.
- 1 min
Learn how Adam Smith used the metaphor of the Invisible Hand to describe the self-regulating and cooperative nature of markets. Explore the evolution and controversies of this concept in economics and society.
Learn what the invisible hand is, how Adam Smith used it to describe the free market's self-regulating mechanism, and how economists have interpreted it since then. The invisible hand is a metaphor for how individual self-interest can benefit society as a whole.
