A quote by Adam Smith on the invisible hand is the topic of this blog post.
“Every individual is continually exerting himself to find out the most advantageous employment for whatever capital he can command. It is his own advantage, indeed, and not that of the society which he has in view. But the study of his own advantage naturally, or rather necessarily, leads him to prefer that employment which is most advantageous to society. 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 not part of his intention.” Adam Smith
“This is an excellent quote by Adam Smith and one that I totally agree with as people who are acting in their own self-interest do tend to provide an overall benefit to society. I do agree that the invisible hand can work wonders but I also realize that there are many individuals and in particular, large corporation that act only in their own self-interest without any regard for the rest of society such as the big banks and other politically connected companies. I despise the people who mindlessly spout the quotes of Adam Smith to suit their own agenda. Now that I have read more quotes by Adam Smith I see clearly now that while he clearly believed in free enterprise he was not as much of an advocate for limited government as many “free market” ideologues make him out to be.” Stan Burman
About Stan Burman.
Stan Burman is an entrepreneur and freelance paralegal who has worked in California and Federal litigation since 1995 and has created over 300 sample legal documents for California and Federal litigation which can be viewed at http://www.scribd.com/LegalDocsPro
Comments are welcome.