‘The Invisible Hand’ is one of economics' most well-known phrases. But what did Adam Smith, the person credited with applying that phrase to economics, really mean when he used it? And how important was it to Smith's economic philosophy? Chicago Booth ethics professor John Paul Rollert digs into Smith's use of the phrase and examines it in the context of Smith's body of writing.
Chicago Booth’s Andrew Leon Hanna discusses how policymakers should respond to the global proliferation of displaced people.
The Economics of the Refugee Crisis
The findings may have lessons for other nascent industries.
Why Craft Breweries May Strategically Underadvertise
Monetary policy decisions can have meaningful long-term effects.
How High Interest Rates Harm InnovationYour Privacy
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