The term 'invisible hand' was first used by Adam Smith in the 18th century to describe the efficiency in the autoregulation of free markets, where free means not externaly intervened by governments. Intervention distorts markets and harms the efficiency of their functioning.
The main principle behind is that, when individuals pursue their "private" efforts they are generating larger wealth for society as a whole than if their first intention was to help society. The markets will be in charge of channelizing individuals interests into socialy desirable outcomes.
Answer:
Who is one ancient Greek playwright? Aristotle admired Sophocles (and particularly his Oedipus the King) because he wrote good plots about important people. Many people share Aristotle's point of view and consider Sophocles the greatest Greek playwright. We know of a total of 123 plays written by Sophocles, of which a mere seven survive.
Who is one ancient Greek historian? Herodotus is the most famous ancient Greek historian also known by most scolars as “The Father of History”. Herodotus was born in Halicarnassus, and lived in the fifth century BC.
Explanation:
<span>Creating an Islamic Golden Age</span>
