Invisible Hand §

Group: 5 #group-5

Relations §

• Laissez-faire Economics: The concept of the ‘invisible hand’ is central to laissez-faire economics, where market forces naturally regulate the economy.
• Spontaneous Order: The concept of the invisible hand, proposed by Adam Smith, describes how individual self-interest can lead to spontaneous order in markets.
• Free Market Economy: The ‘invisible hand’ of the market is a concept that describes the self-regulating nature of a free market economy.