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Adam Smith’s basic claim was : “The free market system is like an invisible hand that...

Adam Smith’s basic claim was : “The free market system is like an invisible hand that can obtrusively coordinate the behaviour of a multitude of individuals, interested only in maximizing their own selfish utility, so as to bring about efficiency and a socially optimal outcome.” Critically evaluating the concept of economic efficiency, discuss the above statement.

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Rahul Sunny answered 9 months ago
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Adam Smith’s basic claim was : “The free market system is like an invisible hand that...
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