Adam Smith vs John Nash
Mr Smith, XVIII century’s great grand-father of modern economics, devised the power of the market as the main driver (anyone for the “invisible hand”?). As in “A Beautiful Mind” we can hear: “every man for himself”, because the own interest will tend to get the main group’s interest. Following Mr Nash’s intervention, in fact, prior group negotiation is needed in order to obtain individual interest (this is the basis for collaborative games which it was thought to be the foundations for cutting edge game theory, however, later on, John Nash demonstrated that it really was non-collaborative ones). Let’s watch it:
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