04-05-2003, 11:23 PM
john nash's optimization theory as it applies to economics is very important. i'll skip the math behind it. before nash, people thought the best thing was to maximize their own profit any way they could. now, because of nash, businesses know that it's best in the long run to make sure that business does what is best for all business, so that everyone succeeds thus creating a more stable economy. basically this leads to better co-op between rival businesses to ensure that those businesses succeed.