Adam Smith’s flash of genius was to see how prices that emerged in the market could coordinate the activities of millions of independent people. This “invisible hand” improves the general welfare, even though it comes from individuals pursuing their own self-interest. The invisible hand explains how self-interest can create an orderly society that benefits everyone.

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Additional resources:

Watch “The Tyranny of Control” with Milton Friedman, available here: http://bit.ly/2tmtaSh.

Read "How Adam Smith Can Change Your Life" by Russ Roberts, available here: https://amzn.to/2UptXxt.

Listen as Russ Roberts talks about his book "How Adam Smith Can Change Your Life," available here: https://hvr.co/31AubDz.

Watch “It’s a Wonderful Loaf” written and narrated by Russ Roberts, available here: http://bit.ly/3810XjA.

Read “Jumpstart the Economy!” by John B. Taylor, available here: https://hvr.co/2GRhV7W.

Read “Why Government Is the Problem” by Milton Friedman, available here: https://hvr.co/391hELE.

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