Smith (1723-90)laid the intellectual framework that explained the free market and still holds true today.He is most often recognized for the expression "the invisible hand,"which he used to demonstrate how self-interest guides the most efficient use of resources in a nation's economy,with public welfare coming as a by- product. 数更价首5大考Smith (1723-90) laid the intellectual framework that explained the free market and still holds true today. He is most often recognized for the expression "the invisible hand," which he used to demonstrate how self-interest guides the most efficient use of resources in a nation's economy, with public welfare coming as a by￾product