Adam Smith’s invisible hand: why his ideas are still influential today
The Scottish thinker – considered by many to be ‘the father of capitalism’ – published his magnum opus, ‘The Wealth of Nations,’ 250 years ago. In it, he coined the metaphor of the invisible hand, which refers not to a magical order, but to a market with an institutional framework that fosters growth. His ideas decisively influenced liberal thought, especially due to his belief in individual liberty and his wariness of state intervention