![subject](/tpl/images/cats/fizika.png)
Physics, 25.04.2020 06:28 fbillinton
60 Second Adventures in Economics 1. The Invisible Hand 60 second adventures in Economics - Number one: The Invisible Hand
An economy is a tricky thing to control, and governments are always trying to figure out how to do it.
Back in 1776 economist Adam Smith shocked everyone by saying that what governments should actually do is just leave people alone to buy and sell freely among themselves.
He suggested that if they just leave self-interested traders to compete with one another, markets are guided to positive outcomes 'as if by an invisible hand'.
If someone charges less than you - customers will buy from them instead – so you have to lower the price or offer something better.
Wherever enough people demand something, they will be supplied by the market – like spoiled children – only in this case, everyoneʼs happy.
Later free-marketeers like Austrian economist Friedrich Hayek, argued that this ʻhands offʼ approach actually works better than any kind of central plan.
But the problem is, economies can take a long time to reach their ʻequilibriumʼ, and may even stall along the way. And in the meantime people can get a little frustrated, which is why governments usually end up taking things into their own more visible hands instead.
3 Question Plz Help Me.
According to Adam Smith - should the government be involved in stimulating the economy?
how does the invisible hand keep the market (the economy) running effectively?
why or when does the government get involved in stimulating the economy?
![ansver](/tpl/images/cats/User.png)
Answers: 3
![](/tpl/images/ask_question.png)
![](/tpl/images/ask_question_mob.png)
Another question on Physics
![question](/tpl/images/cats/fizika.png)
Physics, 22.06.2019 01:30
Kate is working on a project in her tech education class. she plans to assemble a fan motor. which form of energy does the motor convert most of its electric energy into? a. light energy b. motion energy c. sound energy d. thermal energy
Answers: 1
![question](/tpl/images/cats/fizika.png)
Physics, 22.06.2019 09:30
Need asap ‼️ 20 pts which gravitational force field diagram is drawn correctly? (answers in pictures below)
Answers: 1
![question](/tpl/images/cats/fizika.png)
Physics, 22.06.2019 15:30
An alien spaceship is 500 m above the ground and moving at a constant velocity of 150 m/s upwards. how high above the ground is the ship after 5 seconds?
Answers: 1
![question](/tpl/images/cats/fizika.png)
You know the right answer?
60 Second Adventures in Economics 1. The Invisible Hand 60 second adventures in Economics - Number o...
Questions
![question](/tpl/images/cats/himiya.png)
Chemistry, 28.09.2020 16:01
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 28.09.2020 16:01
![question](/tpl/images/cats/fizika.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 28.09.2020 16:01
![question](/tpl/images/cats/mat.png)
Mathematics, 28.09.2020 16:01
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/User.png)
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/istoriya.png)
History, 28.09.2020 16:01
![question](/tpl/images/cats/en.png)
English, 28.09.2020 16:01
![question](/tpl/images/cats/mat.png)
Mathematics, 28.09.2020 16:01
![question](/tpl/images/cats/istoriya.png)
![question](/tpl/images/cats/mat.png)
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/en.png)
![question](/tpl/images/cats/mat.png)
Mathematics, 28.09.2020 16:01
![question](/tpl/images/cats/mat.png)
Mathematics, 28.09.2020 16:01