Was Adam Smith's 'Invisible Hand' correct?

Definition: The unobservable market force that helps the demand and supply of goods in a free market to reach equilibrium automatically is the invisible hand. Description: The phrase invisible hand was introduced by Adam Smith in his book 'The Wealth of Nations'. read more

Hence the name the invisible hand. Adam Smith was a genius to point it out. Especially in his time when markets were not as communicative as today with our gigantic web of mass media. He did not mean to say that the Invisible Hand was a part of capitalistic society. He just explained that it was a part of ANY economic system involving humans. read more

Smith was profoundly religious, and saw the "invisible hand" as the mechanism by which a benevolent God administered a universe in which human happiness was maximised. He made it clear in his writings that quite considerable structure was required in society before the invisible hand mechanism could work efficiently. read more