Add new comment

Permalink Submitted by David Harold Chester (not verified) on 20 March, 2022

The concept of the invisible hand of Adam Smith was supplemented by that of Leon Walras who described the way the natuional economy works is when its participants apply a "tatonnement" or groping action, to try to achieve the best condition for equilibrium. So we conclude that our fair social system of
macroeconomics is being groped by an invisible hand!

About text formats

Filtered HTML

  • Web page addresses and email addresses turn into links automatically.
  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
A practical guide to writing about anything for anyone!
A dog has eaten someone's homework

Some practical tips to help you when you need it most!

  • Maths in a minute

    Want facts and want them fast? Our Maths in a minute series explores key mathematical concepts in just a few words.

  • Climate change: How can maths help?

    As COP28, the 2023 United Nations Climate Change Conference, kicks off we look at how maths can help understand the climate crisis.

  • The travelling salesman
    map

    How do you create dramatic film out of mathematics? We find out with writer and director Timothy Lanzone.

  • Disease modelling for beginners

    Mathematics plays a central role in understanding how infectious diseases spread. This collection of articles looks at some basic concepts in epidemiology to help you understand this fascinating and important field, and set you up for further study.

  • Maths in a minute: Conditional probability

    Find out why the formula we use to work out conditional probabilities is true!

  • A disappearing number
    scene from play
    We talk about a play that explores the fascinating mathematical collaboration between the mathematicians GH Hardy and Srinivasa Ramanujan.