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Dec
26

Natural Laws in Economics, Principia and Lean Six Sigma

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Isaac Newton in his third book the Pricipia the "System of the world", describes the four rules of reasoning and demonstrates that the principle of gravity is in agreement with the phenomena. Newton does not assign a cause, and concludes that "to us it is enough that gravity exists". Newton's demonstration was based on induction. Adam Smith took the concept of nature as a law bound system of the matter in motion and in his model he represented society as a collection of individuals pursuing their self-interest in an economic order governed by the laws of supply and demand.

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