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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 ...
"I, Pencil" is written in the first person from the point of view of a pencil. The pencil details the complexity of its own creation, listing its components (cedar, lacquer, graphite, ferrule, factice, pumice, wax, glue) and the numerous people involved, down to the sweeper in the factory and the lighthouse keeper guiding the shipment into port.
They are led by an invisible hand to make nearly the same distribution of the necessaries of life, which would have been made, had the earth been divided into equal portions among all its inhabitants, and thus without intending it, without knowing it, advance the interest of the society, and afford means to the multiplication of the species.
Chandler uses eight propositions [3] to show how and why the visible hand of management replaced what Adam Smith referred to as the invisible hand of the market forces: . that the US modern multi-unit business replaced small traditional enterprises, when administrative coordination permitted better profits than market coordination;
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 ...
The Invisible Hand, whose members are mostly scientists, have invented explosives of massive power, built a submarine, and created artificial diamonds, which they use to fund their activities. The Invisibles was published in 1903 and was considered "a curious example of subculture trying to move up."
A rifle on display. Chekhov's gun (or Chekhov's rifle; Russian: Чеховское ружьё) is a narrative principle that states that every element in a story must be necessary and irrelevant elements should be removed.
"Tanstagi", an acronym standing for "There Ain't No Such Thing As Government Interference", is the motto of the Invisible Hand Society, an originally fictional organization invented in the Schrödinger's Cat Trilogy. The acronym was deliberately intended as a reference to Robert A. Heinlein's TANSTAAFL principle.