Milton Friedman talks about Adam Smith's well-known phrase "invisible hand," which was introduced in his famous book "The Wealth of Nations." In it, explains Friedman, Adam Smith explained how individuals doing productive work by pursuing only their own interests, are also ending up promoting interests of the society, as if they were lead by the "invisible hand."
Milton Friedman talks about Adam Smith's well-known phrase "invisible hand," which was introduced in his famous book "The Wealth of Nations." In it, explains Friedman, Adam Smith explained how individuals doing productive work by pursuing only their own interests, are also ending up promoting interests of the society, as if they were lead by the "invisible hand."