Father of Economics Adam Smith

5 .
             Many writers, economists, and politicians talked and wrote about the theory of The Invisible Hand. Among these there was a writer called Helen Joyce, and her interpretation about the theory attracted my attention strongly for the reason that it was a bit different from the others, as she raised new aspects of the theory that no one raised before. These two aspects were what is the modern Invisible Hand? And how wise is the invisible hand? 6 At the beginning in her article" Adam Smith and the Invisible Hand" she said that the concept of the Invisible Hand is a" mechanism in which man's satisfaction reaches to a very high limit. 7 Moreover, she talked about the relation between the rich and the poor, and she says that for Adam Smith the worst time was when the poor stealing from the rich even if this was to satisfy a need, because according to Smith ethics and morals are vital and crucial for the economic system to work effectively.8 However, Joyce discussed the issue of the modern Invisible Hand and she said that " a modern Invisible Hand process is one in which the outcome to be explained is produced in a decentralized way, with no explicit agreements between the acting agents. 9 Moreover she discussed how wise is the invisible hand? And she said that the theory is so clear and has got a high level of persuasion and influence, because it shows how it is valuable in many economic situations. 10 Therefore, we can realize that the theory is so wise and advantageous. The last fascinating point that Joyce mentioned and raised was how the environment surrounding Adam smith helped him a lot, because in the theory of the invisible hand, there are some people who are above the law, and others who are living with no rights. 11 And this was clear through the words of Adam Smith in Helen Joyce article when he said, " it is the highest impertinence and presumption, therefore, in kings and ministers .