How are Adam Smith' ideas are relevant today? (RE: His Invisable Hand theory.)?

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How are Adam Smith' ideas are relevant today? (RE: His Invisable Hand theory.)?

2006-07-30 12:51:48 · 2 answers · asked by Anonymous in Education & Reference ➔ Higher Education (University +)

2 answers

It was proven a long time ago that A S theory is wrong : his "invisible hand" could work only if all the conditions for a "pure and perfect" commercial competition were reunited (equality of power between buyers and sellers, availability and good transmission of the information...). And this conditions just can't be reunited. I do prefer Keyes interventionnist theory.

2006-07-30 12:59:00 · answer #1 · answered by Espectacularrrrr! 5 · 1⤊ 0⤋

isnt Adam Smith the founder of the morman faith

OMG, I cant believe I didnt get who he was, my teacher will kill me

2006-07-30 12:55:11 · answer #2 · answered by Derrick 3 · 0⤊ 0⤋