Whose Interest? Conflicts with the Invisible Hand
指出亚当·斯密并非简单认为市场中的个人利益会自动促进社会利益，而是揭示了不同利益间的冲突，如议价能力、制度权力等不对称因素会破坏利益和谐。
Abstract Adam Smith's Wealth of Nations is often associated with the idea that in markets individuals’ interests are led by an invisible hand that unintentionally promotes society's interest. Yet, Smith not only qualifies the conditions under which the invisible hand can align individual interests with society's interest, but he also distinguishes between different interests. This distinction among different interests allows him to show that interests can often conflict, as key asymmetries fracture the harmony between individual and social interest, systematically benefiting one interest at the expense of others. Differences in bargaining power between buyers and sellers; unequal understanding of interests across social groups; asymmetries in access to institutional power and the ability to shape legislation; and divergent levels of institutional stability all tend to generate conflict, rather than promote harmony of interests.