3min chapter

Simplifying Complexity cover image

The dynamics of financial instability

Simplifying Complexity

CHAPTER

Exploring Economic Theories of Equilibrium and Instability

This chapter explores economic theories of equilibrium and instability within capitalist systems, examining historical models that reveal the challenges of stable pricing mechanisms. Key examples include the auctioneer model by Walras and mathematical principles by Peron and Frobenius, showcasing the intricate relationship between economics and mathematics.

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