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The Concept Of The Invisible Hand: Relevance For The African Economy
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62 days agoThe concept of the invisible hand is one of the most powerful ideas in economics, first introduced by Adam Smith in his classic work, The Wealth Of Nations (1776).
The concept suggests that when individuals pursue their own self-interest in a free market, they indirectly promote the overall good of society, as though guided by an unseen force.
African entrepreneurs seeking profit develop products and services that meet community needs, from FinTech solutions in Nigeria to agribusiness in Kenya. This self-interest supports job creation and reduces poverty.
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