In other words, society is guided by an invisible hand toward optimal choices, as opposed to a more visible set of requirements leading to those choices. The theory is often used as a backbone to ...

Instead of Adam Smith's theory of the "invisible hand" of the market, I recommend Alfred D. Chandler's theory of the "visible hand." Based on his detailed studies of the historical evolution of ...

Drug legalization, on the other hand, would leave our citizenry more free and its advocacy no longer on the fringe. Noble Prize winners Milton Friedman and Gary Becker advocated legalization or ...