The Wealth Of Nations By Adam Smith

1521 Words7 Pages
In Adam Smith’s famous work, The Wealth of Nations, he references the idea of the “invisible hand” and its influence on the individual. An excerpt from Smith’s renown book reads, “[E]very individual necessarily labours to render the annual revenue of society as great as he can. He generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it . . . he intends only his own gain, and 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” (Harrison, 2011). A simple interpretation of Smith’s “invisible hand” concept is that the buying influence of the general consumer is unrecognized by the consumer them self. The consumer’s buying power not only controls were the money in the community is spent, but can also influence what is bought and sold. Lack of recognition of these two basic buying powers creates a market that is uninhibited by consumer ideals and morals. Lately, the reach of market values has started encompass aspects of life that it once did not. Michael Sandel wrote in his essay, Markets and Morals, “The more money can buy, the more affluence matters” (Morals and Markets 43¬).The “invisible hand” of the market has always gripped the throats of the poor and now with an expansion of market values the grip is becoming tighter. In the essay “Markets and Morals”, Michael Sandel calls for attention to be directed at the spread of markets into other spheres of life
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