Explain the meaning of the term invisible hand

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Reference no: EM133015361

"The preconditions needed to encourage us to trade are provided not by providence but government.." N Phillipson, Governments are the Custodians of Adam Smith's invisible hand, The Guardian, 10th October 2011.

Explain the meaning of the term, the invisible hand.

Outline the role that Adam Smith felt the governments would need to play in the newly evolving system of capitalism.

https://www.theguardian.com/commentisfree/2011/oct/10/governments-adam-smith-invisible-hand

Reference no: EM133015361

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