Adam Smith believed that the existence of competition and self-interest might get
out of hand in a free market and therefore advocated the use of "the invisible fist"
of government to control market economies.

Question

Adam Smith believed that the existence of competition and self-interest might get
 out of hand in a free market and therefore advocated the use of "the invisible fist"
 of government to control market economies.

Quizplus · Accepted Answer

Adam Smith is known for his concept of "the invisible hand," not "the invisible fist." He believed that individuals pursuing their own self-interest would naturally lead to economic prosperity and order, as if guided by an invisible hand, rather than advocating for government intervention to control market economies.

Adam Smith Believed That the Existence of Competition and Self-Interest