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The free market’s ‘invisible hand’ will right all wrongs

The idea by Adam Smith that, left to itself, the market would correct itself every time. In The Wealth Of Nations, one of the founding texts of economic theory, Smith argued that when individuals act in a purely self-interested way, society as a whole can benefit too.

However, unknown to many modern capitalists, he also believed that the government should intervene where necessary and as the recent economic crisis demonstrates when governments stepped in to bail out the banks – a completely free market would destroy society.