Invisible hand, foot
As everyone tries, as best he can, to put his money to support the domestic industry, that the industry might produce the most good, everyone works hard for the betterment of society. Adam Smith said the individual neither intends to promote the public interest, nor knows how much he is promoting it. By supporting domestic, not foreign industry, he wants only for his own security, he intends only his gain and is led by an 'invisible hand' to promote an end he never intended to. Smith said society is not always worse for what the individual was no part of. By pursuing his own interest effectively he promotes society more than he intended to.
If we assume the entrepreneur in the free world of economics and we assume the government establishes markets and property rights whenever a disadvantage is found, each man will soon find out, by contriving, he can put external disadvantages on others, knowing he will be better off bargaining in the new market. The more significant the social cost imposed, the greater his reward. It follows the entrepreneur will create the maximum social costs to put on others. D'Arge labels this process the 'invisible foot' of a laissez faire market. The 'invisible foot' ensures, in a free market, everyone pursuing only his own good, will automatically and most efficiently do his part maximizing the general public misery.
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