منابع مشابه
Demand Creates Its Own Supply
As recent events attest, modern economies may have trouble enforcing Say’s Law. An economy with decentralized markets and trades between goods and a liquid asset, money, has two equilibria. In full-employment, output is determined by supply. But a higher demand for liquidity is self-fulfilling and precipitates the economy to an equilibrium where output is determined by demand: the increase of t...
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The mechanism by which aggregate supply creates the income that generates its matching demand (called Say’s Law), may not work in a general equilibrium with decentralized markets and savings in bonds or money. Full employment is an equilibrium, but convergence to that state is slow. A self-fulfilling precautionary motive to accumulate bonds (with a zero aggregate supply) can set the economy on ...
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The typical pattern-recognition program is either elaborately preprogrammed to process specific arrays of input patterns, or else it has been designed as a tabula rasa, with certain abilities to adjust its values, or "learn." The first type often cannot identify large classes of patterns that appear only trivially different to the human eye, but that would completely escape the machine's logic ...
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ژورنال
عنوان ژورنال: IASL Annual Conference Proceedings
سال: 2021
ISSN: 2562-8372
DOI: 10.29173/iasl7689