One of the most important skills of the economist, therefore, is that of simplification of the model. Two important methods of simplification have been developed by economists. One is the method of partial equilibrium analysis (or microeconomics), generally associated with the name of Alfred Marshall and the other is the method of aggregation (or macro-economics), associated with the name of John Maynard Keynes.
In this crucial sense, the theory of punctuated equilibrium adopts a very conservative position. The theory asserts no novel claim about modes or mechanisms of speciation; punctuated equilibrium merely takes a standard microevolutionary model and elucidates its expected expression when properly scaled into geological time.stephen jay gould
The market is sovereign and in the magic economy of the small entrepreneur there is no authoritarian center… in the political sphere… the equilibrium of powers prevails, and hence there is no chance of despotism.c. wright mills
The new information technologies can be seen to drive societies toward increasingly dynamic high-energy regions further and further from thermodynamical equilibrium, characterized by decreasing specific entropy and increasingly dense free-energy flows, accessed and processed by more and more complex social, economic, and political structures.
According to Gould and Eldredge, the reason why so many links are missing is that they simply do not exist. They take the view that biological evolution proceeds in successive stages of "punctuated equilibrium." Living species would remain unchanged for extremely long stretches of time, and then undergo profound changes in relatively short periods. To borrow a term from the quantum theory of atoms, evolution would occur in "quantum jumps." It is very likely that the spark of life appeared during the first such "jump."niles eldredge
The whole aspect of the universe changes with this new conception. The idea of force governing the world, of pre-established law, preconceived harmony, disappears to make room for the harmony that Fourier had caught a glimpse of: the one which results from the disorderly and incoherent movements of numberless hosts of matter, each of which goes its own way and all of which hold each other in equilibrium.peter kropotkin
Vertical and horizontal lines are the expression of two opposing forces; they exist everywhere and dominate everything; their reciprocal action constitutes ‘life’. I recognized that the equilibrium of any particular aspect of nature rests on the equivalence of its opposites.Piet Mondrian
We need to recognise that the entire information sector—from music to newspapers to telecoms to internet to semiconductors and anything in-between—has become subject to a gigantic market failure in slow motion. A market failure exists when market prices cannot reach a self-sustaining equilibrium. The market failure of the entire information sector is one of the fundamental trends of our time, with far-reaching long-term effects, and it is happening right in front of our eyes.
Wilderness to the people of America is a spiritual necessity, an antidote to the high pressure of modern life, a means of regaining serenity and equilibrium.sigurd olson
Financial markets are supposed to swing like a pendulum: They may fluctuate wildly in response to exogenous shocks, but eventually they are supposed to come to rest at an equilibrium point and that point is supposed to be the same irrespective of the interim fluctuations. Instead, as I told Congress, financial markets behaved more like a wrecking ball, swinging from country to country and knocking over the weaker ones.It is difficult to escape the conclusion that the international financial system itself constituted the main ingredient in the meltdown process.george soros
It cannot but happen that those individuals whose functions are most out of equilibrium with the modified aggregate of external forces, will be those to die; and that those will survive whose functions happen to be most nearly in equilibrium with the modified aggregate of external forces.But this survival of the fittest, implies multiplication of the fittest. Out of the fittest thus multiplied, there will, as before, be an overthrowing of the moving equilibrium wherever it presents the least opposing force to the new incident force.Herbert Spencer
As there must be moderation in other things, so there must be moderation in self-criticism. Perpetual contemplation of our own actions produces a morbid consciousness, quite unlike that normal consciousness accompanying right actions spontaneously done; and from a state of unstable equilibrium long maintained by effort, there is apt to be a fall towards stable equilibrium, in which the primitive nature reasserts itself. Retrogression rather than progression may hence result.Herbert Spencer
The state has an active role to play in ensuring that there is equilibrium between the constituent parts of the economy, the consumers and the producers.pierre trudeau
Finally, the claim that we equated punctuated equilibrium with saltation makes no sense within the logical structure of our theory so, unless we are fools, how could we ever have asserted such a proposition? Our theory holds, as a defining statement, that ordinary allopatric speciation, unfolding gradually at microevolutionary scales, translates to punctuation in geological time.stephen jay gould
The equilibrium between supply and demand is achieved only through a reaction against the upsetting of the equilibrium.david harvey
Good and evil grow up together and are bound in an equilibrium that cannot be sundered. The most we can do is try to tilt the equilibrium toward the good.Eric Hoffer
Giving full rein to one‘s cynicism as one goes along produces a normal outlet and maintains an emotional equilibrium.s. s. van dine
[The notion of equilibrium] is a notion which can be employed usefully in varying degrees of looseness. It is an absolutely indispensable part of the toolbag of the economist and one which he can often contribute usefully to other sciences which are occasionally apt to get lost in the trackless exfoliations of purely dynamic systems.
The equilibrium model describes systems which, in moving to an equilibrium point, typically lose organization, and then tend to hold that minimum level within relatively narrow conditions of disturbance.
In Deutsch 's view, to say that a social system is in equilibrium implies that: 1) it will return to a particular state when disturbed; 2) the disturbance is coming from outside the system; 3) the greater the disturbance the greater the force with which the system will return to its original state; 4) the speed of the system's reaction to disturbance is somehow less relevant a sort of friction, or blemish having no place in the "ideal" equilibrium; 5) no catastrophe can happen within the system.
The equilibrium between supply and demand is achieved only through a reaction against the upsetting of the equilibrium.
The model of competitive equilibrium which has been discussed so far is set in a timeless environment. People and companies all operate in a world in which there is no future and hence no uncertainty.
Keynes tried to show that market economies could settle in equilibrium states in which the labour market did not clear, and in which the level of unemployment was high. He believed that this was due to a particular example of market failure, developed in his concept of effective demand.
For me, as I later came to say, cybernetics is the art of creating equilibrium in a world of possibilities and constraints. This is not just a romantic description, it portrays the new way of thinking quite accurately. Cybernetics differs from the traditional scientific procedure, because it does not try to explain phenomena by searching for their causes, but rather by specifying the constraints that determine the direction of their development.
The world is not dialectical -- it is sworn to extremes, not to equilibrium, sworn to radical antagonism, not to reconciliation or synthesis. This is also the principle of evil.
Nothing relinquished is lost; everthing finds its true balance, its equilibrium in God...
He (the American Indian) believes profoundly in silence – the sign of a perfect equilibrium. Silence is the absolute poise or balance of the body, mind and spirit...
In her world , the high and the low, the light and the dark, the eternal and the ephemeral, are balanced in perfect equilibrium ...
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