🎧 The invisible hand: Capitalism's misunderstood metaphor

How well do you know your Econ 101?
🎧 The invisible hand: Capitalism's misunderstood metaphor

What drives the global economy? Any student of economics is likely to mention the “invisible hand”—the idea that collective self-interest guides a market more efficiently than government intervention can. Legendary 18th century Scottish philosopher Adam Smith coined the usage of this term, but a closer look at context suggests he may have been saying something else entirely.

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Pop quiz

Who else mentions the “invisible hand” in a published work?

A. Shakespeare

B. Thomas Jefferson

C. Justin Bieber

D. All of the above

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The answer to the quiz is A. Shakespeare, but we truly hope you thought it was all of the above.