0
i don't believe there to be any flaws because there doesn't seem to be much controversy about his main ideas, however i do feel that surely if everybody tried to achieve the most profit they could then some people would have to be losing money? as they would be losing out on the business somebody else was recieving!
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What do we mean when we say invisible hand?
Adam Smith's invisible hand theory
Who first talked about the invisible hand of the marketplace?
Adam Smith
According to Adam Smith the market was directed by?
an invisible hand.
Does Adam smith's invisible hand also function in traditional and command economies?
no it didn't
Who wrote about the invisible hand in a market economy?
The person who wrote about invisible is a great economist,who is also considered as the father of economics "adam smith".he is the person who wrote about invisible hand.
What do we mean when we say invisible hand?
Adam Smith's invisible hand theory
Who first talked about the invisible hand of the marketplace?
Adam Smith
According to Adam Smith the market was directed by?
an invisible hand.
According to Adam smith the market was directed by which of these?
an invisible hand
Does Adam smith's invisible hand also function in traditional and command economies?
no it didn't
Who wrote about the invisible hand in a market economy?
The person who wrote about invisible is a great economist,who is also considered as the father of economics "adam smith".he is the person who wrote about invisible hand.
Adam Smith argued that free trade produced the wealth of nations through?
Adam Smith made the argument that free trade produced the wealth of nations through what he called the invisible hand. The invisible hand refers to the way the marketplace is self-regulating. Smith was a Scottish philosopher.
What did Adam Smith say the free market economy is regulated by?
It was self-regulated by the "invisible hand."
What is Adam smith's theory on economics?
Adam Smith believed that all people in the economy are guided by the "invisible hand", which means that people act mainly out of self interest.
What was the invisible hand theory propsoed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers
Why were Adam smith's principles connected to Ronald Reagan's reagonomics?
Both believed in the idea of an "invisible Hand".
What was the invisible hand theory proposed by Adam smith?
the economy will automatically adjust to the needs of buyers and sellers.
