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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.
15 mag 2024 · The invisible hand is a metaphor for how, in a free market economy, self-interested individuals operate through a system of mutual interdependence. This interdependence...
- Christina Majaski
- 2 min
invisible hand, metaphor, introduced by the 18th-century Scottish philosopher and economist Adam Smith, that characterizes the mechanisms through which beneficial social and economic outcomes may arise from the accumulated self-interested actions of individuals, none of whom intends to bring about.
Invisible Hands Deliver is now a program of Commonpoint Queens; a social service agency with programs in 60 locations across the borough that provides services from mental health to youth and adult workforce development to refugee resettlement and more.
16 set 2022 · The invisible hand is a foundational concept for rational choice theory, which states that people will make decisions based on their own personal self-interest and benefits.
The Invisible Hand is perhaps the most important—and most controversial—metaphor in economics. For fans of markets, it is synonymous with free individuals having their commercial interactions informed and guided by the feedback mechanism of the price system.
The Invisible Hand is a term that Scottish moral philosopher and political economist Adam Smith (1723-1790) used to describe the unintended social benefits of individual actions. The term refers to the free market’s ability to allocate factors of production, products and services to their most valuable use.
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