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The invisible hand

The invisible hand is Adam Smith’s metaphor describing how individuals’ behaviour and decision-making ends up benefiting society as a whole because they are incentivized to act in their own self-interest.

Where this appears

The syllabus topics that use this term.

  • 1.2Adam Smith and Laissez-Faire (18th Century)
  • 1.2Timeline of Economic Thought

Taught in Economic Methodology and the Evolution of Economic Thought

All 809 terms
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