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Tuesday, December 07, 2004

The Nash Equilibrium

So many people in society today seem to be concerned solely with themselves. They apply the Adam Smith rule that competition will always bring the most benefit to everyone. This applies to equally to small business owners, trade unionists, CEOs, leaders of special interest groups.

However, there is a problem with this theory. It is wrong. Remember the movie a beautiful mind. The guy it was about John Nash came up with the Nash Equilibrium which shows that the best result for all often comes from cooperation.

Anyway, this has got me thinking. I am suprised that nobody has used Equilibrium as a name of a political group yet.

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