Visible Hand (economics)
The Visible Hand in economics describes how the coordinated efforts of market participants, driven by self-interest and facilitated by prices, direct economic activity and resource allocation toward efficient outcomes. It's a concept that highlights the emergent order in free markets.
Tumisang Bogwasi
Tumisang Bogwasi
What is Visible Hand (economics)?
The concept of the “visible hand” in economics refers to the collective actions of individuals and firms in a market economy that, through the price mechanism and self-interest, guide resources to their most valued uses. It contrasts with Adam Smith’s
