Adam Smith and the Invisible Hand Theory Explained

The theory of the invisible hand attributed to Adam Smith proposes that individual choices and self-interest guide the capitalist economy forwards. Here, we'll look at the theory and examples of the invisible hand using one of my favourite foods: CHEESE!

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Sources:

Noesgaard, D., Yoshida, D., Colless, R., Phui, L., & Fielding, J. (2010). Understandings of ideologies. Don Mills, ON: Oxford University Press.

Music: Romance for Piano and Cello by Martijn de Boer (NiGiD) (c) copyright 2015 Licensed under a Creative Commons Attribution Noncommercial (3.0) license. http://dig.ccmixter.org/files/NiGiD/5

Images:

Kylie Jenner Grilled Cheese, Fair Dealing, https://i.ytimg.com/vi/IOk8njQxQ7w/ma...

Pointing, Photo by Designecologist from Pexels

Pointing 2, Photo by Andrea Piacquadio from Pexels

Cash, Photo by Tima Miroshnichenko from Pexels

Euros, Photo by Markus Spiske from Pexels

Cash Hand, Photo by Karolina Grabowska from Pexels

Exchange, Photo by Karolina Grabowska from Pexels

Money, Photo by David McBee from Pexels

Pointing, Photo by Stephan Seeber from Pexels

Pointing, Photo by Gustavo Almeida from Pexels

Pointing, Photo by Lucas Pezeta from Pexels

Storefront 1, Photo by Eva Elijas from Pexels

Storefront 2, Photo by Daria Shevtsova from Pexels

Cheese, Photo by Polina Tankilevitch from Pexels

Cheddar Cheese, By I, J.P.Lon, CC BY-SA 3.0, https://commons.wikimedia.org/w/index...