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What most people associate with Adam Smith is the idea of the "invisible hand;" the idea, that is, that free markets restrain prices to some "natural" level and assure the supply of goods and services at the "natural" price. Indeed Smith's discussion of the "invisible hand" comes quite early in The Wealth of Nations, but it is not the first topic Smith takes up...
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What most people associate with Adam Smith is the idea of the "invisible hand;" the idea, that is, that free markets restrain prices to some "natural" level and assure the supply of goods and services at the "natural" price. Indeed Smith's discussion of the "invisible hand" comes quite early in The Wealth of Nations, but it is not the first topic Smith takes up...
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