Chapter
Existence of General Equilibrium
49:50 - 1:01:35 (11:44)
The existence of general equilibrium demonstrates the interconnectedness of systems and the availability of resources despite the behavior of individuals, and can be proven through mathematical equations.
Clips
The existence of a solution to a differential equation can be proven by uniformly bounding the slope of a function.
49:50 - 56:02 (06:11)
Summary
The existence of a solution to a differential equation can be proven by uniformly bounding the slope of a function. Prime numbers may not have immediate applications, but their appearance in abstract algebra better challenges mathematicians and pushes the field forward.
ChapterExistence of General Equilibrium
Episode#285 – Glenn Loury: Race, Racism, Identity Politics, and Cancel Culture
PodcastLex Fridman Podcast
This podcast discusses the theory of general equilibrium which demonstrates the fact that there exists a solution to the system of equations that equates demand and supply, taking into account the interdependence of markets and the impact of prices on people's behavior.
56:02 - 1:01:35 (05:33)
Summary
This podcast discusses the theory of general equilibrium which demonstrates the fact that there exists a solution to the system of equations that equates demand and supply, taking into account the interdependence of markets and the impact of prices on people's behavior. The episode explores the construction of worldgroups and the aggregation of data to make generalizations.