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5 June, 04:47

This 18th century economist coined the term "invisible hand," a metaphor representing the natural forces that drive individuals to succeed economically, which are the same forces that "invisibly" guide a large economy. this 18th century economist coined the term "invisible hand," a metaphor representing the natural forces that drive individuals to succeed economically, which are the same forces that "invisibly" guide a large economy.

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  1. 5 June, 07:18
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    This 18th-century economist is Adam Smith who is hailed the Father of Economics. In his 1776 book "An Inquiry Into the Nature and Causes of the Wealth of Nations" Smith argues that society benefits in a free economy in which individuals are motivated by their own self-interest which unintentionally benefits society as a whole. Smith's aim using the term moreover was to attack the mercantilist system which was prevalent during his time.
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