Concept of the Invisible Hand in a Laissez-faire economy “By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of it.” …showed first 75 words of 863 total…

…showed last 75 words of 863 total…reach the “peak”. Though laissez-faire has not been a very popular belief since the mid-19th century, we as a people are able to do business independently. For “he intends his own security” and “…intends his own gain.” Bibliography Bibliography Pearce, David W. The MIT Dictionary of Modern Economics. Cambridge, Massachusetts. The Macmillan Press. 1992. Smith, Adam. An Inquiry into the Nature and Causes of The Wealth of Nations. New York, New York. The Modern Library. 1776.