Adam Smith's invisible hand argument

  title={Adam Smith's invisible hand argument},
  author={John Douglas Bishop},
  journal={Journal of Business Ethics},
  • J. Bishop
  • Published 1 March 1995
  • Economics
  • Journal of Business Ethics
Adam Smith is usually thought to argue that the result of everyone pursuing their own interests will be the maximization of the interests of society. The invisible hand of the free market will transform the individual's pursuit of gain into the general utility of society. This is the invisible hand argument.Many people, although Smith did not, draw a moral corollary from this argument, and use it to defend the moral acceptability of pursuing one's own self-interest.Smith does use the invisible… 
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