1. The Effect of Invisible Hand to Society
According to Adam Smith's work, the "An Inquiry into the Nature and Causes of the Wealth of Nations."" - one of the most important books on economics ever written, his work established economics as an autonomous subject and launched the economic doctrine of a free market economy. ... Intense competition causes unit costs and prices to fall to the benefit of consumers. ... There are other problems that are caused by "selfishness- of individuals in the free market as well. The market economy, as seen in history causes a wide gap or disparity between groups of people in the country. ...
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