Free Market - Criticisms - Simulation of Biological Laws

Simulation of Biological Laws

See also: Social Darwinism

The free market is believed to self-regulate in the most efficient and just way. Adam Smith described this behavior applied to competitive markets with the metaphor of an invisible hand urging society towards prosperity.

Some economists, sociologists and political scientists proposed that in a fully competitive economic environment, the most potent individuals would thrive and in turn society would prosper. Such arguments lead to the consolidation of neoliberalism and laissez-faire.

Read more about this topic:  Free Market, Criticisms

Famous quotes containing the words simulation of, simulation, biological and/or laws:

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