Balanced Billing Legislation and the Invisible Hand of Adam Smith

Recall that a particle in equilibrium is one for which the external forces are balanced. Static equilibrium involves objects at rest, and dynamic equilibrium involves objects in motion without acceleration; but it is important to remember that these conditions are relative. For instance, an object may be at rest when viewed from one frame of reference, but that same object would appear to be in motion when viewed by someone moving at a constant velocity.
Newton's first law tells us about...

In 1653, the French philosopher and scientist Blaise Pascal published "Treatise on the Equilibrium of Liquids," which discussed the principles of static fluids. A static fluid is a fluid that is not in motion. When a fluid is not flowing, we say that the fluid is in static equilibrium. If the fluid is water, we say it is in hydrostatic equilibrium. For a fluid in static equilibrium, the net force on any part of the fluid must be zero; otherwise, the fluid will start to flow. Pascal...

James Clerk Maxwell (1831–1879) was one of the major contributors to physics in the nineteenth century. Although he died young, he made major contributions to the development of the kinetic theory of gases, to the understanding of color vision, and to understanding the nature of Saturn's rings. He is probably best known for having combined existing knowledge on the laws of electricity and magnetism with his insights into a complete overarching electromagnetic theory, which is...

Social traps are negative situations where people get caught in a direction or relationship that later proves to be unpleasant, with no easy way to back out of or avoid. The concept was orignally introduced by John Platt who applied psychology to Garrett Hardin's "Tragedy of the Commons", where in New England herd owners could let their cattle graze in the common ground. This situation seems like a good idea, but an individual could have an advantage. If they owned...

Electric fields generated by static charges, often referred to as electrostatic fields, are characteristically different from electric fields created by time-varying magnetic fields. While the former is a conservative field, implying that no net work is done on a test charge if it goes around in a complete loop in the field, the latter is, by definition, not a conservative field; net work is done, and it is proportional to the rate of change of magnetic flux.
However, the observation of...

The partial pressure of a gas is a measure of the thermodynamic activity of the gas's molecules. The pressure that a gas would create if it occupied the total volume available is called the gas's partial pressure. If two or more gases are mixed together in a container, the molecules move randomly and collide with each other, causing them to reach thermal equilibrium. When the gases have the same temperature, their molecules have the same average kinetic energy. Thus, each gas obeys the...