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Explaining A Concept: Concept Of The Invisible Hand In A Laissez-Faire Economy
“By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of it.” Adam Smith, Inquiry into the Nature and Causes of the Wealth of Nations 1776.
What business does a government have in commerce and trade? Why would a government want to interfere between two countries benefiting from each other by trade ....
Word count: 853 - Page count: 4
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