...needs of society as a whole, each person aims to maximize his/her own self interest and in the process "he frequently promotes that of the society more effectually than when he really intends to promote it." In this process, an "invisible hand" sees to it that what society needs gets produced — without any...

...'conductor' of technology for development." (Rosenblatt, 1979, p. 29). innovation and investment, " he is, in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention" (see Smith, 1976, p. 477), but "once competition was lost,...

...perhaps the most important sentence ever written in English: "By pursuing his own interest he frequently2 promotes that of the society more effectually than when he really intends to promote it." In a stroke of his pen Smith solved the ageold conundrum of group versus individual interests. And,...

...such a manner as its produce may be of the greatest value, he intends only his own gain, and he is, as in many other cases, led by an invisible hand to promote an end which was no part of his intention." (Hervorhebung des Verf.). 45 Smith, Wealth of Nations,...

...89 22 47 8 0 5 7 United Kingdom 68 46 39 29 11 6 18 United States 97 62 47 15 0 8 1 Unknown/NR 6 9 0 the society more effectually than when he really intends to promote it." 97 The healing and renewal of our nation will be complete, and Ghana will be on the road to become...

...directing that industry in such a manner as its produce may be of the greatest value, he intends only ; but I have never known much good done by those who affected to trade for the public good. It is an affectation,...

...employ his capital ... 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...is it always the worse for the society that it was not part of it. By pursuing his own interest he frequently promotes that of the society more effectually...

...interest, nor knows how much he is promoting it, he intends only his own security [. . .] he intends only his own gain, and he is in this, as in many other...part of his intention. Nor is it always the worse for society that it was no part of his intention. By pursuing his own interest he frequently promotes that...

...by proposing a (generally acceptable) procedure for how such a suggested norm might be justified. 12 part of it. By pursuing his own interest he frequently...effectually than when he really intends to promote it. I have never known much good done by those who affected to trade for the publick good. It is an affectation,...

...command, it is his own advantage . . . and not that of society which he has in view'.7 Nevertheless, 'by pursuing his own interest, he frequently promotes...effectually than when he really intends to promote it'. Adam Smith's celebrated 'invisible hand'8 promotes a social end from myopic self-concerns. In doing...