The Chicago school picked up a few aspects of Adam Smith's thought and made it the whole of his thought. They picked out the phrase the invisible hand which he uses just two or three times in his writings, to me that's unfortunate. The phrase the invisiblehand appears exactly once in the wealth of nations. It is in a section about whether local businessmen would be tempted to use foreign trade to enrich themselves at the expense of their nation. Why not? Here is Smith's reasoning. By preferring the support of domestic to that of foreign industry, he intends only his own security. And by directing that industry in such a manner as its produce may be of the greatest value, he intend only his