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This concept is well-demonstrated through a famous example in Richard Cantillon’s "An Essay on Economic Theory (1755)," the book from which Smith developed his invisible hand concept.
When people act in their self-interest, that naturally leads to market efficiency, according to invisible hand proponents. For example, if a car manufacturer produces more minivans than they can ...
Take, for example, this, from a Professor of Humanities at Cooper Union over in the American Prospect: The central propositions of free-market economics boil down to these: The Invisible Hand.
Instead, the invisible hand works best within a climate of a generally ... with copper being a good example. China is responsible for about 55% of global demand. With its economy continuing ...
An example of a rational consumer would be ... Adam Smith, who proposed the idea of an “invisible hand” moving free-market economies in the mid-1770s, is usually credited as the father ...
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