I. Introduction: How the Invisible Hand Became Distorted
We are living in an unprecedented era: algorithms govern economic order, platforms dictate human behavior, and the logic of capital’s self-replication has penetrated family, emotion, faith, and even life and death. In the face of this, some still cling to the notion of that "invisible hand"—yet we must ask: Is it truly Adam Smith’s hand?
The answer is: No. The "invisible hand" behind today’s market order has long been distorted. It is no longer the unconscious emergence of moral consensus, but a conscious orchestration of monopoly structures, institutional design, and ideological manipulation.
II. Adam Smith’s Original Intent: Morality-Driven Market Self-Order
Adam Smith’s "invisible hand" arose from the interplay of The Wealth of Nations and The Theory of Moral Sentiments:
Humans are not purely self-interested animals, but moral creatures who yearn to "become admirable persons."
The pursuit of self-interest, when constrained by justice, fairness, and temperance, spontaneously generates systemic altruistic consequences.
The market is not a boundless deity but a regulatory mechanism embedded within an ethical society.
Commerce must operate within social norms and public morality, not escape beyond them.
Adam Smith advocated not "letting greed run free," but "letting freedom constrained by morality form order." He never envisioned capital operating autonomously beyond the state, society, and morality.
III. The Hijacked Invisible Hand: Neoliberalism’s Betrayal
The rise of neoliberalism represents a systematic distortion of Smith’s "invisible hand":
It absolutizes the "free market," treating the state, unions, and communities as mere interferences.
It reduces humans to rational, self-interested, amoral homo economicus, erasing compassion, duty, and belonging.
It champions financialization, platformization, and globalization, placing capital efficiency above all else.
It blames market crises on "excessive intervention," while never reflecting on its own logic of institutional dispossession.
This pseudo-market logic has produced 21st-century "systemic irrationality": cyclical collapses, consumer illusions, extreme inequality, ecological collapse, and the disintegration of public spirit.
IV. We Need a New "Invisible Hand": Collective Morality + Institutional Structure
We call for rebuilding a true "invisible hand":
Reorganizing the Moral Society: Reshaping the socio-psychological foundation around altruism, reciprocity, and empathy.
Institutional Embeddedness and Checks: Markets must be ethically calibrated by public power and democratic collectives.
De-monopolization and De-financialization: Restraining hyper-platform power; rebuilding small-scale, polycentric, sustainable economic units.
Liberating Knowledge and Education: Shattering ideological monopolies; restoring Adam Smith’s original vision of the "philosophical economic person."
V. Conclusion: We Are That Hand
The true "invisible hand" was never mysterious. It has always resided in human hearts, in mutual aid, in dignified labor. It is a self-organizing network formed by countless ordinary people through trust, reason, and moral intuition. Today we declare:
That hand is not a phantom of capital—it is an extension of the people.
We will no longer worship the hand of the hijackers. We will reclaim it, returning it to history, to Adam Smith, and to ourselves.
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