Although everyone speaks about Adam Smith, few people read him. I love reading Adam Smith as you find something that is not in common wisdom. Anyway, here is Adam Smiths invisible hand quote. So many people talk about the invisible hand but in the Wealth of nations it only appears once.
he intends only his own gain; and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention.
What does Adam Smith’s Invisible hand mean? You need to understand who Adam Smith was, he was a moral philosopher and a religious man. He believed that when people act on their enlightened self interest, than society as a whole benefits in positive ways in which the individual could not imagine.
This means man is basically good. People who are against Adam Smith’s invisible hand believe people are basically bad and need to be engineered by wiser more moral government bureaucrat. Anti-Smith thinkers like Karl Marx believe individuals can not be trusted to live their lives and government needs to put into place laws that direct social economic behavior.
Adam Smith’s Invisible hand
Smith as a thinker was pure genius. How could a government engineer an economy if the greatest benefit comes from unseen consequences of actions? Think about it please. Adam Smith’s Invisible hand is genius and minds like this come around only once every few hundred years. I live in Poland and travel to Russian and Ukraine and see the lasting affects of a government engineering an economy.
Adam Smith’s invisible hand was nothing more than Adam Smith believing in the good in people. That you personally can make free choices about your life and your career and the way you participate in the economy. Is there anything wrong with that?