The document discusses Adam Smith's concept of the "invisible hand" and how individual self-interest can benefit society. It asks the reader to address: 1) What Smith meant by the invisible hand and how it functions. 2) How Smith's work reacted to the dominant economic theory of mercantilism. 3) Whether all 19th century thinkers agreed with Smith's laissez-faire economic views and how Marx critiqued it. 4) How Smith's and Marx's influences are reflected in the modern US mixed economy. The reader must answer in 1,250-1,500 words using APA style and citing 3-5 sources.

1. Adam Smith, a very influential eighteenth-century political
economist, wrote, “By pursuing his own interest, he frequently
promotes that of the society more effectually than when he
really intends to promote it” (cited in Stiglitz & Rosengard,
2015, p. 62). Considering the quotation, in 1,250-1,500 words,
address the following questions.
1. Describe what Smith meant by the “invisible hand.” How
exactly does it function?
2. Describe how Smith’s work is a reaction to mercantilism,
which dominated the seventeenth and eighteenth centuries. As a
point of departure, define
mercantilism.
3. Discuss if all 19th-century thinkers agree with Smith. How
did, for instance, Karl Marx view the doctrine of laissez-
faire? What were the inevitable consequences of such an
economic system?
4. Discuss the influences of Smith and his critics, like Marx,
reflected in the mixed economy of the United States today.
Use three to five scholarly resources to support your
explanations.
Prepare this assignment according to the guidelines found in the
APA Style Guide,
This assignment uses a rubric. Please review the rubric prior to
beginning the assignment to become familiar with the
expectations for successful completion.
You are required to submit this assignment to Turnitni.