What is the Invisible Hand?

The Theory of the Invisible Hand was developed by the economist Adam Smith and is a metaphor for how the pursuit of self-interest can be beneficial to the whole of society. In other words, according to this theory, there is no disadvantage for each person to seek their individual interest, since the law of supply … Read more

What is a bill of exchange discount?

The discount of bills is a financial operation that generally consists of anticipating the liquidity of a debt belonging to a company, which has not yet been collected. The discount will symbolize all debt in favor of a company subject to a deferral in its payment. So, if a company is in this case, and … Read more