The concept of the invisible hand of Adam Smith was supplemented by that of Leon Walras who described the way the natuional economy works is when its participants apply a "tatonnement" or groping action, to try to achieve the best condition for equilibrium. So we conclude that our fair social system of
macroeconomics is being groped by an invisible hand!
The concept of the invisible hand of Adam Smith was supplemented by that of Leon Walras who described the way the natuional economy works is when its participants apply a "tatonnement" or groping action, to try to achieve the best condition for equilibrium. So we conclude that our fair social system of
macroeconomics is being groped by an invisible hand!