Socialistm   There are two important features of Smiths concept of the invisible hand First Smith was not advocating a social policy that people should act in their own self interest but rather was describing an observed economic reality that people do act in their own interest Second Smith was not claiming that all selfinterest has beneficial effects on the community He did not argue that selfinterest is always good he merely argued against the view that selfinterest is necessarily bad It is worth noting that upon his death Smith left much of his personal wealth to charity  Good  Lets all make sure we put forth the idea that Adam Smith was a socialist  Thats the wikipedia way