The Invisible Hand

Adam Smith, in his classic work, The Wealth of Nations, posited the economic principal that the greatest benefit to society is brought about by individuals acting freely in a competitive marketplace in the pursuit of their own self-interest.

“It is not from the benevolence of the butcher, the brewer or the baker that we expect our dinner, but from their regard to their own self-interest… [Every individual] intends only his own security, only his own gain. And he is in this led by an invisible hand to promote an end which was no part of his intention.

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