Question

Adam Smith used the “invisible hand” as a metaphor for the forces that balance a free market. What might be a good metaphor for the forces at work in a command economy? Explain your answer.

Answer 1

In economics, the invisible hand is a metaphor used by Adam Smith to describe ... Smith may have come up with the two meanings of the phrase from Richard Cantillon ... In this work, however, the idea of the market is not discussed, and the word ... In alternative models, forces which were nascent during Smith's life, such as ... and ....