The invisible hand is a concept introduced by economist Adam Smith. It refers to the self-regulating nature of markets where ...

The concept of the invisible hand is one of the many contributions of the legendary Scottish philosopher and economist Adam Smith. In his book The Wealth of Nations, Smith wrote of a person who ...

This year marks the 300th anniversary of Adam Smith, the iconic figure behind the theory of free markets, or of what we have since come to call “capitalism.” Born in June 1723, Smith went on to ...

The academic economist’s dry prose usually benefits from an evocative metaphor. But we would all be better off if Adam Smith had skipped the bit about “the invisible hand.” He meant little, if ...