The Invisible Hand theory is this
[The business person] generally, indeed, neither intends to promote the public interest, nor knows how much he is promoting it. ... He intends only his own security; and by directing that industry in such a manner as its produce may be of the greatest value, he intends only his own gain.Notice that Adam Smith said that we "frequently promote" the interests of society in a truly free market. Not always. Because none of us are perfect. But the farther we get from perfect, the less likely the Invisible Hand will function properly.
He is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. ... By pursuing his own interest he frequently promotes that of the society more effectually than when he really intends to promote it.
Notice also that Adam Smith didn't describe the Invisible Hand as working in an environment of rampant fraud. It absolutely will not work in such an environment.
If the Invisible Hand isn't working, it's my fault. And it's your fault. It works under normal circumstances. But our circumstances are becoming less and less normal every day. You need to do something about it.
John Adams warned that
Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other.It is no different for the free market. Free enterprise cannot be maintained except in an environment where the populace is predominantly moral and religious. As an American society, we've just about crossed the line.
If it's not working, I can't bear to think of the alternative. Because if it's not working, the most immoral people--the same ones who will have broken the free market with their rampant immorality--will be at the pinnacles of your government.
Watch out. We're almost there.