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The invisible hand is a metaphor inspired by the Scottish economist and moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to accidentally act in the public interest, even when this is not something they intended. Smith originally mentioned the term in two specific, but ...
Chandler argues that in the nineteenth century, Adam Smith's invisible hand was supplanted by the "visible hand" of middle management, which became "the most powerful institution in the American economy". [1] The Visible Hand was awarded the 1978 Pulitzer Prize for History and the Bancroft Prize of Columbia University. [2]
In economics the "visible hand" is generally considered to be the macro-fiscal policy of John Keynes that emerged in the 1930s as a remedy for the shortcomings of Adam Smith's "invisible hand" and advocated government intervention in the economy. [4] Actually, Smith already identified the disadvantages of the "invisible hand". [5]
This is an accepted version of this page This is the latest accepted revision, reviewed on 4 January 2025. Scottish economist and philosopher (1723–1790) This article is about the Scottish economist and philosopher. For other people named Adam Smith, see Adam Smith (disambiguation). Adam Smith FRS FRSE FRSA Posthumous Muir portrait, c. 1800 Born c. 16 June [O.S. c. 5 June] 1723 Kirkcaldy ...
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The Other Invisible Hand is a non-fiction book written by the economist Julian Le Grand. The primary focus of his book is increasing taxpayer sovereignty by developing a market in the public sector. The title of the book refers to Adam Smith's invisible hand. The invisible hand is the idea that individual choice benefits society more than does ...
The Vanishing Hand theory is a concept first conceived of by economist Richard Normand Langlois. [1] The term is an intentional play on both Adam Smith 's invisible hand and Alfred Chandler 's Visible Hand .
"The Invisible Hand" is the sixth episode of the animated television series The Spectacular Spider-Man, which is based on the comic book character Spider-Man created by Stan Lee and Steve Ditko. The episode follows Spider-Man as he faces the Rhino , who has an indestructible rhino-like suit and super strength.