The Invisible Hand

In economics, a free market is a system in which the prices for goods and services are self-regulated based on supply and demand, free from any intervention by a government or other authority. Free market is often synonym of open market, which actually refers to a market that is accessible to everyone having equal opportunity of entry. Alongside with the concepts of free and open market goes that of the invisible hand describing the idea that trade and market exchange automatically channeling self-interest toward socially desirable ends. The translation market […]

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