What is Invisible Hand
The phrase “the invisible hand” is a metaphor that was developed by Adam Smith, a Scottish moral philosopher. It is used to explain the incentives that free markets frequently generate for individuals who are motivated by their own self-interest to act in the benefit of the public. In the beginning, Smith only offered particular examples when he invoked the phrase. It is mentioned once in his Theory of Moral Sentiments, which was published in 1759, as a component of an argument that defends monopolistic land ownership through the trickle-down effect. However, it is also used once in his Wealth of Nations, where he explains that foreign traders can be trusted provided the incentives are appropriate, which frequently eliminates the need for governments to intervene. This is the most famous usage of the phrase.
How you will benefit
(I) Insights, and validations about the following topics:
Chapter 1: Invisible hand
Chapter 2: Adam Smith
Chapter 3: David Ricardo
Chapter 4: Economics
Chapter 5: Free market
Chapter 6: Homo economicus
Chapter 7: Index of economics articles
Chapter 8: Laissez-faire
Chapter 9: Capital (economics)
Chapter 10: Classical economics
Chapter 11: The Wealth of Nations
Chapter 12: History of capitalist theory
Chapter 13: Productive and unproductive labour
Chapter 14: Returns (economics)
Chapter 15: History of economic thought
Chapter 16: Preference (economics)
Chapter 17: Economic liberalism
Chapter 18: Perspectives on capitalism by school of thought
Chapter 19: Justice and the Market
Chapter 20: Economic democracy
Chapter 21: Economic opportunism
(II) Answering the public top questions about invisible hand.
(III) Real world examples for the usage of invisible hand in many fields.
Who this book is for
Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of invisible hand.
