False. Its the direct opposite. They are the natural forces in a market where price, demand and supply adjust themselves freely. This free movement/adjustment that brings markets to balance is called the invisible hand which negates the need for any external intervention or controls.The invisible hand refers to the many indirect controls that the Federal government imposes in the market sy?
what i described tha free hand in my book is (not necessarily a well accepted view but still a valid and strong view point) that if u go through the texts of economists of the time of adam smith... you will notice that many theories were not as accurate and well supported by extensive data.. the reason was that economics was not very old then. and economists at that time lacked the bundles of international data that we enjoy today.. hence many facts that were observed at that time and not fully explainable with variables were catagorized as work of invisible hand. .
this is not a new approach. . all the other sciences have been using this approach in their developing phases ie catagorizing the facts that they cant explain as th work of an invisible hand.
and according to adamsmith govt control direct or indirect always deteriorates the market hence disturbing the role of the invisible hand (or the market mechanism) so the answer is hence false. :)
No. the invisible hand is the hand of free market forses according to adam smith
False, the invisible hand is the free market system not influence by the federal government.
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