Fair Trade

The Invisible Hand Needs Help to Work

Authors

  • Eduardo Saavedra Facultad de Economía y Negocios , Alberto Hurtado University image/svg+xml

    DOI:

    https://doi.org/10.11565/oe.vi62.205

    Keywords:

    free market, invisible hand, market regulation

    Abstract

    How “fair” is a market economy? With an institutional framework that strengthens exchange relations grounded entirely in economic efficiency, quite fair: fully consistent with Adam Smith’s famous “invisible hand.” The market allocates resources efficiently in a free-market economy provided that market power is absent and that markets exist for all goods. Continue reading...

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    Published

    2012-05-01

    Issue

    No. 62 (2012)

    Section

    Articles

    License

    Copyright (c) 2012 OBSERVATORIO ECONÓMICO

    Creative Commons License

    This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

    How to Cite

    Fair Trade: The Invisible Hand Needs Help to Work. (2012). Observatorio Económico, 62, 6-7. https://doi.org/10.11565/oe.vi62.205

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