The term "invisible hand" refers to:

the theory that corporate taxes are ultimately borne by the consumer.
the suspicion that special interest groups rob the public till.
Adam Smith's theory of how monopolies work.
the role of agricultural workers in an industrialized economy.
the possibility that unregulated pursuit of self-interest contributes to the general welfare of society.

When oil prices rise sharply because of political instability, some politicians will propose that the government help people by preventing price gouging. Most economists will:

support these proposals because price gouging serves no useful purpose but it does hurt the poor.
oppose these proposals because higher prices get consumers to use less oil and sellers to produce more oil
oppose these proposals because they do not believe the government should interfere with markets.
take no stand because the issue is not one of positive economics but is purely normative.

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