How does the “invisible hand” operate and why do market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output?
“Invisible hand” in the instant case is being used a metaphor for government control. So you believe that FAR 15 is too onerous?
July 25, 2019Adam Smith wrote about the “invisible hand’ and was in favor of free trade. Michael Porter wrote about national competitive advantage. Discuss how these 2 theories are related. State and explain your stance on free trade based upon your understanding and agreement/disagreement with these 2 theorists.
July 25, 2019How does the “invisible hand” operate and why do market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output?
Question Description
How does the “invisible hand” operate and why do market economies usually do a better job than command economies at efficiently transforming economic resources into desirable output?
