What is Adam Smith's "invisible hand"?

Adam Smith

An 18th-century Scottish economist and philosopher known as the father of classical economics, best known for his works "The Wealth of Nations," which outlines the basis for free market economics.

Invisible Hand

A term used by Adam Smith to describe the self-regulating nature of the marketplace, where individual self-interest can lead to beneficial social outcomes.

Acquire an understanding of and critically assess different theories on the relationship between the mind and the body.

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Laphonso AlexanderMay 10, 2024

Final Answer :

The invisible hand is the "mechanism" by means of which a society of individuals, each working only with his or her own interests in mind, might collectively serve to improve society as a whole and increase the general welfare.

Learning Objectives

Acquire an understanding of and critically assess different theories on the relationship between the mind and the body.

What is Adam Smith's "invisible hand"?

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