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The scottish philosopher Adam smith introduced what economic concept?
Wiki User
∙ 12y ago
Smith introduced Free Market Economics.
Wiki User
∙ 12y ago
Adam Smith introduced the concept of the "invisible hand" in economics, which refers to the self-regulating nature of a free market system where individual self-interest leads to overall economic benefit for society as a whole. This idea suggests that by pursuing their own interests, individuals unintentionally contribute to the well-being of the entire society.
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∙ 12y agoIDFK
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