2007-01-22 09:18:43 · 3 answers · asked by Anonymous in Society & Culture ➔ Religion & Spirituality
Essentially that in an open market with perfect information available to all participants, the market will self regulate itself so that all goods are produced in correct proportion to the demand for those goods.
2007-01-22 09:25:45 · answer #1 · answered by mullah robertson 4 · 0⤊ 0⤋
People act from complicated motivations. But the sum total of all the actions of all the people adds up and is predictable, as if all the people were guided by the invisible hand of a god, to act exactly as they were supposed to, even though it's really from a lot of complicated motivations.
2007-01-22 09:25:17 · answer #2 · answered by x4294967296 6 · 0⤊ 1⤋
The power the people as a whole have over the market.
2007-01-22 09:24:26 · answer #3 · answered by Phoenix, Wise Guru 7 · 0⤊ 1⤋