INVISIBLE HAND
A term coined by Adam Smith, a Scottish moral philosopher and pioneer of political economy. His 1776 book, An Inquiry into the Nature and Causes of the Wealth of Nations, invisible hand refers to the natural phenomenon that guides free market capitalism via competition for insufficient resources.
According to Smith, every participant in a free market will attempt to maximize self-interest. Market participants’ interaction, resulting to exchanging goods and services, allows each participant to become better than merely producing for himself/herself. He added in a free market, regulation is not needed to make sure the mutually beneficial exchange of goods and services occur. The invisible hand would guide individuals to trade in the best mutually beneficial manner.
POPULAR TERMS
Property Tax
Onerous Contract
Overhead
Substitute
Materials Requirement Planning - MRP
POPULAR ARTICLE
SEE FOREX TUTORIAL
A Guide to Your Personal Income Tax: Basics
Retirement Planning: Creating a Nest Egg
Digesting Financial Statements: Long-Lasting Liabilities
Retirement Planning: Last-Minute Preparation
Student Loans: Loan Repayment
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 04:00 | Expected Annual Inflation 2y from now | 4 quarter | |
| 07:00 | Economy Watchers Survey | Oct | |
| 10:30 | New Yuan Loans | Oct | |
| 01:30 | Westpac Consumer Sentiment | Nov | |
| 01:50 | M2 Money Supply + CD | Oct | |
| 02:30 | NAB Business Confidence | Oct | |
| 08:00 | Prelim Machine Tool Orders | Oct | |
| 09:00 | CPI | Oct | |
| 09:00 | Harmonized CPI | Oct |
