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Final answer:

Adam Smith introduced the concept of the invisible hand guiding markets to equilibrium based on individual self-interest.


Explanation:

Adam Smith, the 18th-century economist, introduced the concept of an invisible hand guiding markets in his book 'The Wealth of Nations.' This metaphor symbolizes how individual self-interest in a free market can lead to the overall benefit of society. Smith believed in laissez-faire, advocating for minimal government interference in the economy to let the invisible hand dictate market dynamics.


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