In economics, the invisible hand of the market is a metaphor used by Adam Smith to describe the self-regulating behavior of the marketplace. Individuals can make profit, and maximize it without the need for government intervention. The exact phrase is used just three times in Smith`s writings, but has come to capture his important claim that indi....
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(from the article `political economy`) ...economists in the 18th century emphasized the role of individuals over that of the state and generally attacked mercantilism. This is perhaps best ...
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http://www.britannica.com/eb/a-z/i/36
A term coined by Adam Smith who believed that although individuals followed their own interest the greatest benefit to society as a whole is achieved by their being free to do so. Adam Smith argued that the 'invisible hand' would organise markets and ensure that they arrived at the optimum outcome. This would all happen by individuals and firms pur...
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http://www.encyclo.co.uk/local/20140
The invisible hand is a business term describing the unseen forces by which the pursuit of rational self- interest achieves a socially desirable outcome. The concept was conceived by Adam Smith to describe the operation of a market economy, the idea of the invisible hand forms the basis of neoclassical theories about general equilibrium and Pareto ...
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http://www.probertencyclopaedia.com/browse/JI.HTM
The invisible hand is the undetectable market force that interferes to help the?demand and supply?of goods to automatically reach?equilibrium. More broadly, the term refers to the inadvertent social benefits of individual actions, and it is introduced by Adam Smith.
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