The Economics Nobel: Giving Adam Smith a Helping Hand

sciencenow.sciencemag.org — "Scottish philosopher Adam Smith asserted that when everyone acts out of self-interest, everyone will eventually benefit, as if a benevolent "invisible hand" molds the economy. Economists now know that view is naive: They can prove that in some situations, rational people will act in ways that leave everybody a loser. But such dreary outcomes can s