Invisible Hand or Invisible Gun

Two hundred and forty years ago, Adam Smith wrote in “The Wealth of Nations,”: “He [the individual]… neither intends to promote the public interest, nor knows how much he is promoting it…. he intends only his own gain, and he is in this, as in many other cases, led by Continue Reading →

The Invisible Hand Today

Sunday is the birthday of Adam Smith, thought by many to be the father of economics. Published in the same year as the United States Declaration of Independence, his masterpiece, “Wealth of Nations” was comprehensive, insightful, and even now, very readable. Though his work was wide-ranging, his best known concept Continue Reading →