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The invisible hand is a metaphor inspired by the Scottish economist and moral philosopher Adam Smith that describes the incentives which free markets sometimes create for self-interested people to accidentally act in the public interest, even when this is not something they intended. Smith originally mentioned the term in two specific, but ...
The American Invitational Mathematics Examination (AIME) is a selective and prestigious 15-question 3-hour test given since 1983 to those who rank in the top 5% on the AMC 12 high school mathematics examination (formerly known as the AHSME), and starting in 2010, those who rank in the top 2.5% on the AMC 10. Two different versions of the test ...
Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand. [4] Rationality can be used as an assumption for the behaviour of individuals in a wide range of contexts outside of economics. It is also used in political science, [5] sociology, [6] and philosophy. [7]
In mathematics, the converse of a theorem of the form P → Q will be Q → P. The converse may or may not be true, and even if true, the proof may be difficult. For example, the four-vertex theorem was proved in 1912, but its converse was proved only in 1997. [3]
In economics the "visible hand" is generally considered to be the macro-fiscal policy of John Keynes that emerged in the 1930s as a remedy for the shortcomings of Adam Smith's "invisible hand" and advocated government intervention in the economy. [4] Actually, Smith already identified the disadvantages of the "invisible hand". [5]
However, according to the best currently accepted theory in physics, the Standard Model, there is a distance (called the Planck length, 1.616229(38)×10 −35 metres, named after one of the fathers of Quantum Theory, Max Planck) and therefore a time interval (the amount of time which light takes to traverse that distance in a vacuum, 5.39116(13 ...
The proof is written as a series of lines in two columns. In each line, the left-hand column contains a proposition, while the right-hand column contains a brief explanation of how the corresponding proposition in the left-hand column is either an axiom, a hypothesis, or can be logically derived from previous propositions.
A mathematical object is an abstract concept arising in mathematics. [1] Typically, a mathematical object can be a value that can be assigned to a symbol, and therefore can be involved in formulas.