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Invisible hand

Invisible hand

The “Invisible hand” is the notion of the economist Adam Smith that efficient utilization of resources arises from a free market of individuals pursuing their own selfish agendas. The theory of firm and consumer rationality is grounded in neoclassical economics and capitalism, stemming from the work of the 18th-century moral philosopher Adam Smith, who emphasized that a free-market economy should occur within a legal and moral framework. Read more..

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