Gavin Kennedy — Adam Smith's Metaphoric "invisible hand" and the Mythical Invisible Hand of Modern Economists

There is no actual Adam Smith's invisible hand. 

The invisible hand of modern economics is Paul Samuelson's invisible hand of market forces guiding equilibrium and optimization. 

As Joseph Stiglitz famously said, "There is no invisible hand."

Adam Smith's Lost Legacy
Adam Smith's Metaphoric "invisible hand" and the Mythical Invisible Hand of Modern Economists
Gavin Kennedy | Professor Emeritus, Heriot Watt University