Counting the Fingers of Adam Smith's Invisible Hand - Capitalism, Success, Crisis and Reform - Capitalism, Success, Crisis and Reform - Douglas W Rae - Lecture 3 of 23 - Video-lecture

Video-lecture, Economic Sociology

Description: Professor Rae introduces Adam Smith's notion of the "invisible hand" of the market. Several preconditions must be met for the invisible hand to work. Markets must be open, and there cannot be just one buyer or one seller who can control product prices.