Concept

Explaining a Concept: Concept of the Invisible Hand in a Laissez-faire economy “By preferring the support of domestic to that of foreign industry, he intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no …

…belief that the economy can possibly fall into a recession and not be able to pick itself up. The solution is, without the aid of the government; an economy will stay in the “trough” and will never reach the “peak”. Though laissez-faire has not been a very popular belief since the mid-19th century, we as a people are able to do business independently. For “he intends his own security” and “…intends his own gain.”