Adam Smith's invisible hand argument

Journal of Business Ethics 14 (3):165 - 180 (1995)
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Abstract

Adam Smith is usually thought to argue that the result of everyone pursuing their own interests will be the maximization of the interests of society. The invisible hand of the free market will transform the individual''s pursuit of gain into the general utility of society. This is the invisible hand argument.Many people, although Smith did not, draw a moral corollary from this argument, and use it to defend the moral acceptability of pursuing one''s own self-interest.

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Author's Profile

John Bishop
University of Auckland

References found in this work

The Theory of Moral Sentiments.Adam Smith - 1759 - Mineola, N.Y.: Dover Publications. Edited by Elizabeth Schmidt Radcliffe, Richard McCarty, Fritz Allhoff & Anand Vaidya.
The fable of the bees.Bernard Mandeville (ed.) - 1714 - Harmondsworth,: Penguin Books.

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