What is Adam Smith's "invisible hand"?

What will be an ideal response?


The invisible hand is the "mechanism" by means of which a society of individuals, each working only with his or her own interests in mind, might collectively serve to improve society as a whole and increase the general welfare.

Philosophy & Belief

You might also like to view...

Which IS NOT a criticism of act utilitarianism?

A. act utilitarianism counts everybody's happiness equally. B. it is difficult to measure happiness. C. act utilitarianism allows one to treat others unjustly if doing so will maximize happiness. D. act utilitarianism allows one to ignore one's duties if doing so will maximize happiness.

Philosophy & Belief

Vancouver is located on the Pacific coast of North America, it is near the 49th parallel, and it is cold in January. Seattle is located on the Pacific coast of North America, and it is near the 49th parallel. Therefore, Seattle is cold in January. This argument form is:

a. modus ponens. b. modus tollens. c. hypothetical syllogism. d. disjunctive syllogism. e. enumerative induction. f. analogical induction. g. invalid

Philosophy & Belief

The Nicomachean Ethics (Aristotle)

What is the main claim and supporting arguments in Nicomachean Ethics?

Philosophy & Belief

Which of the following Christian denominations is a spirit-oriented movement?

a. Pentecostal b. Methodist c. Catholic d. Anglican

Philosophy & Belief