Adam Smith, 1776, in the book The Wealth of Nations.
Adam Smith uses the metaphor to describe the self-regulating behavior of the marketplace. I first appears in The Theory of Moral Sentiments (1759).
Adam Smith
The mechanism that works in a free-market (the market we observe in the USA or UK) which equates supply and demand. This obviously doesn't always occur, but it is the "invisible hand" that we refer to.
an invisible hand.
Incentives and efficiency
The person who wrote about invisible is a great economist,who is also considered as the father of economics "adam smith".he is the person who wrote about invisible hand.
Adam Smith
The mechanism that works in a free-market (the market we observe in the USA or UK) which equates supply and demand. This obviously doesn't always occur, but it is the "invisible hand" that we refer to.
an invisible hand.
an invisible hand
Incentives and efficiency
The person who wrote about invisible is a great economist,who is also considered as the father of economics "adam smith".he is the person who wrote about invisible hand.
market economy
the invisible hand
invisible hand, competition, no monopolies, etc
competition and self-interest
competition and self interest
through market prices