Due to the market failure and government failure, the two hands, whether visible or invisible, must coordinate each other to reach the maximized efficiency.
由于市场失效和政府失灵的存在,“看不见的手”和“看得见的手”只有相互协调配合,才能达到效率最大化。
Part one discusses the Information Asymmetry and its consequences: Adverse Selection, Moral Hazard and Market Failure.
第一部分讨论了证券市场上信息不对称问题所导致的逆向选择、企业经营者道德风险和市场失灵。