A History of Ideas: The Invisible Hand
Aidan Turner on the Invisible Hand
Given a free market, individuals making self-interested decisions will unwittingly create an effective economic system that’s in the public interest. So thought Adam Smith. It’s his Invisible Hand argument to prove that free markets are much more effective than anything Governments design. But is he right? And what if you’re poor or vulnerable? Will the Invisible Hand help you up, or hold you down?
Want to hear more on this topic?
Here’s the whole episode from A History of Ideas – Economist Kate Barker on the Free Market.