The concept of the "invisible hand" means

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The concept of the "invisible hand" was introduced by Adam Smith, a famous economist. According to Smith, individuals pursuing their own self-interest in a free market economy will result in the best overall outcome for society. This is because, through competition, businesses will innovate and produce goods and services that people want to buy. As a result, the economy will grow, and everyone will benefit. Therefore, the pursuit of private gain (by businesses and individuals) will bring the best overall results.

The Concept of the "Invisible Hand" Means