Season 4 · Episode 7
The invisible hand: Capitalism's misunderstood metaphor
Quartz Obsession · Quartz
March 21, 202320m 10s
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Show Notes
What drives the global economy? Any student of economics is likely to mention the “invisible hand”—the collective self-interest that acts as the market’s guiding force in a more powerful and beneficial way than government intervention can. Legendary 18th century Scottish philosopher Adam Smith coined the usage of this term, and one major economics textbook popularized it. But a closer look at context suggests Smith was saying something else entirely.
Presented by EY
Episode art by Vicky Leta