How does an invisible hand directing an individual's economic choices benefit society as a whole?

2 answers:

6 0

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.

Taya2010 [7]3 years ago

3 0

An invisible hand directing an individual's economic choices benefit society as a whole because 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.

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What feature of the colonies allows its citizens to be more democratic than british citizens

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Answer:

The freedom of press in colonial America was a prominent feature of the colonies in America that made the citizens of the colonies more democratic than British citizens.

Explanation:

Other than that, the citizens of the colonies also promoted freedom of religion. There were no coercions on the citizens of the colonies in the name of religion.

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When Milgram's experimental series was reenacted in Bridgeport, Connecticut, far from the prestige and authority of Yale Univers

AfilCa [17]

Answer:

Decreased.

Explanation:

During the reenactment of the experiment, Millgram made a couple of adjustment to his research.

For example,

Rather than someone with known position of authority, millgram use ordinary person to give the order to deliver the shock.

Not only that, He tried to test what the subjects will do if they do not receive the order from the same room as the one that give the orders.