Final answer:
Economists make simplifying assumptions for the invisible hand to work, like perfect competition and rational consumers. These assumptions are not entirely valid in reality due to market imperfections. Thus, it's false that economists avoid making any assumptions that might leave out any aspect of reality.
Step-by-step explanation:
In economic theory, the invisible hand concept introduced by Adam Smith suggests that when individuals pursue their own self-interests, they inadvertently contribute to the economic wellbeing of society. For the invisible hand to work effectively, certain assumptions about the economy must hold true. These assumptions include perfect competition, rational consumers, and complete information. In addition, there needs to be minimal government intervention and an ability for prices to adjust freely to reflect supply and demand.
In the real world, these assumptions are often not fully valid due to the existence of market failures, monopolies, externalities, and information asymmetries. As a result, economic models that rely on these assumptions can oversimplify the complexities of real-world markets. Consequently, economists build models understanding that some aspects of reality must be simplified or omitted in order to make the model workable and to focus on specific relationships or outcomes.
To answer the original question, it is false that economists avoid making any assumptions that might leave out any aspect of reality. Simplifying assumptions are necessary to build economic models that can be analyzed and understood.