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How is the invisible hand theory relevent in society today?

How is the invisible hand theory relevent in society today?

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The invisible hand phrase invisible hand was introduced by Adam Smith in his book 'The Wealth of Nations'. It refers to the unobservable market force that contributes to the demand and supply of goods in a free market for reaching to equilibrium automatically. The invisible hand theory is relevant in society today because the philosophies of wealth accumulation and the free market are relevant now as many countries embrace it through liberal growth of economy. Furthermore entrepreneurs choose for the highest rate of profit, and consumers choose for the lowest price, thus in general economic well-being is increased.

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