A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2018; you can also visit the original URL.
The file type is application/pdf
.
Time and Equilibrium: 2 Important, But Invisible, Concepts of Economics, with Application to Shipping Industry
2018
Modern Economy
As the World built, time established. Economists, however, put the "time" in the "ceteris paribus" basket, i.e. outside demand, supply and price. Moreover, Newton was mistaken in assuming that time flows independently. We saw that since the establishment of analysis, one science borrowed from the other, and economics borrowed from Physics: equilibrium, continuity-where nature does not make leaps-as well as Adam Smith's invisible hand; in addition, management borrowed negative feedback from
doi:10.4236/me.2018.93035
fatcat:g5tvvzqb5bbjbmbv2vmff5txmy