What is the 'invisible hand' theory?
The 'invisible hand' is a metaphor I employed to describe the unintended social benefits of individual self-interested actions. When individuals pursue their own economic gain in a free market, guided by their self-interest and operating within a framework of justice and liberty, they often promote the public good more effectively than if they had intentionally tried to do so. The market's mechanisms, driven by competition and price signals, naturally direct resources to their most productive uses.
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