Adam Smith's invisible hand idea was in the context of nail factories operated by maybe ten people, and with logistics chains maybe spanning to the next village

Adam Smith's invisible hand idea was in the context of nail factories operated by maybe ten people, and with logistics chains maybe spanning to the next village. It would be very efficient in finding the best nail maker in the close vicinity. Or, the best monopolist that burnt down or purchased all competing nail factories. Efficient markets NEED an efficient government to put down ground rules and enforce them.