What phrase describes the process that turns self-directed gain into social and economic benefits for all?

The phrase "invisible hand" captures the concept of individuals pursuing their own self-interest inadvertently promoting the overall good of society. This idea, notably introduced by economist Adam Smith, suggests that when individuals seek to maximize their own profits or well-being, they inadvertently contribute to the economic health and efficiency of the community at large.

In a market economy, when businesses aim to succeed by producing goods and services that meet consumer demands, they create jobs, stimulate demand for resources, and ultimately foster economic growth. This self-regulating nature of the market mechanism ensures that resources are allocated in a way that can improve the living standards of everyone involved, even if that is not the direct intent of the individuals making economic decisions.

While the terms "invisible hand of the market" and "market equilibrium" also relate to economic processes and outcomes, the former is essentially a variant of the original phrase and does not fully encapsulate the idea as succinctly. The latter refers specifically to a state where supply equals demand, which is a condition of the market rather than a guiding principle of individual actions contributing to societal benefits.

The "trickle-down effect" describes a different concept where benefits provided to the wealthy or businesses are presumed to eventually lead to benefits for everyone in the economy