Adam Smith's Theory Of The Invisible Hand '

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Adam Smith used the metaphor of an ‘invisible hand’ to describe how individuals making self-interested decisions can simultaneously and unintentionally accomplish an effective economic system that is in the public interest. The concept of the 'invisible hand' was to allow everyone to buy and sell as freely as they wanted amongst themselves. There was no need for the government to step in and take control; they should just leave it be because the self-regulating nature of the marketplace was determined on what the individuals wanted in resources. Merchant's would compete with each other to have better products, at better costs The theory of the 'invisible hand' provided customers and sellers to trade, in the most beneficial way.

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