Upgrade to access all content for this subject
The concept of the “invisible hand” implies that
income may be redistributed from the wealthy to the poor without the intervention of the government.
businesses that are socially inefficient will be pushed out of the market in the long run.
the government need only play a substantial economic role within a command economy.
the forces of competition and self-interest may be harnessed to serve the public interest.
the only way for business to maximize their profits is by operating independent of the social interest.