Inivisible Hand

Essay specific features

 

Issue:

Business

 

Written by:

Jeffrey H

 

Date added:

January 27, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

12 / 3235

 

Was viewed:

5409 times

 

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Essay content:

The topic discussed addresses coordination by rules, coordination by command, the invisible hand, and the dimensions of market failure. II. Coordination: Coordination refers to a horizontal dimension of economy. Rather, “a circulation of goods, services, and people is called the horizontal dimension because from this perspective things and people do not move ‘up’ or ‘down’ in the economy…they move ‘across’ from place to place” (200)...
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This dimension allows the movement of things from one place to another, initiating self-sufficient individuals and cultures. Coordination allows individuals, and families to specialize; causing them to engage in a type of exchange between different units. The specific methods of this type of economic coordination are: caste, custom, plan, gift, theft, and tribute...
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