Question
What is Adam Smith's "Visible Hand'? Answer in one short sentence
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Answer
Sorry, I meant Adam Smith's "Invisible Hand"
Answered by
GPT-4o mini
Adam Smith's "Visible Hand" refers to the role of management and organized structures in directing and coordinating economic activities, in contrast to the "Invisible Hand," which describes the self-regulating nature of the free market.
Answered by
GPT-4o mini
Adam Smith's "Invisible Hand" is a metaphor for how individuals' self-interested actions can lead to positive economic outcomes and societal benefits through unintended cooperation in a free market.
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