Adam Smith's argument that the "invisible hand" of the free market directed economic life more effectively and fairly than governmental intervention offered intellectual justification for those who believed that the economy should be left to regulate itself.

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Adam Smith's concept of the "invisible hand" suggests that individuals pursuing their own self-interest in a free market economy can lead to the efficient allocation of resources, as if guided by an invisible hand, thus providing a rationale for minimal government intervention in economic affairs.

Adam Smith's Argument That the "Invisible Hand" of the Free