January 2008
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9,106 Citations
Of the Division of LabourOf the Principle which Gives Occasion to the Division of LabourOf the Natural and Market Price of CommoditiesNote
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... If ideas are "traded" or "exchanged" freely among "consumers," the "right" or "true" ideas will always win. Adam Smith's famous concept of "invisible hand" further developed the notion of the marketplace of ideas by elaborating on its mechanisms (Smith, 1904). Smith argued that producers or sellers of commodities, fearful of competition and anxious for financial prosperity, will stimulate the economy and offer the consumers the best possible combination of price and quality. ...
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January 2008