Friedrich Hayek described the Invisible Hand Properties as:
A) "products of human design but not of human action."
B) "products of human action and human design."
C) "products of human action but not of human design."
D) "products of neither human action nor human design."

Question

Quizplus · Accepted Answer

Hayek believed that the invisible hand properties, such as the market price system and the price mechanism, were spontaneous orders that emerged from the actions and interactions of individuals in a market economy, but they were not deliberately designed by any individual or group. Therefore, they are products of human action but not human design.

Friedrich Hayek Described the Invisible Hand Properties As