Holcombe, Randall - In: The Review of Austrian Economics 19 (2006) 2, pp. 189-201
Adam Smith's “invisible hand” is one of the best-known phrases in economics, but its meaning is somewhat ambiguous. The … invisible hand might be viewed as holding the economy close to equilibrium, yet Smith actually says that individuals are led by … an invisible hand. Entrepreneurial forces lead an economy along a path that generates economic progress, and that path is …