The invisible hand of the marketplace acts to allocate resources efficiently, but it does not necessarily ensure that resources are allocated fairly.

Question

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The concept of the invisible hand, introduced by Adam Smith, suggests that free market forces lead to efficient resource allocation based on supply and demand. However, it does not address the fairness or equity of this allocation, which can result in significant disparities in wealth and access to resources.

The Invisible Hand of the Marketplace Acts to Allocate Resources