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SMITH, ADAM: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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INVISIBLE HAND The notion that buyers and sellers, consumers and producers, households and businesses, by pursuing their own self-interests do what is best for the economy automatically without any government intervention, as if guided by an invisible hand.
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Al Capone's business card said he was a used furniture dealer.
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"In war, there is no second prize for the runner-up." -- Omar Bradley, US Army general
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SPE
Subgame Perfect Equilibrium
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