Mathematician Hong Wang received the Fields Medal on July 23 in Philadelphia, notably for her work that led, together with Joshua Zahl, to the solution of the Kakeya conjecture in three-dimensional space. Beneath its puzzle-like appearance, this result carries an idea that directly concerns small economies: the size of a system can be compressed, but never its structure.
An Old Question for Economists
Political economy has carried a question of size since its beginnings. Adam Smith had already observed th
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