Only One Equilibrium: Economy's Stability Hinges on Unique Prices
The article discusses how equilibrium prices in an economy help coordinate buying and selling plans. For this coordination to work well, there should be only one set of prices that achieve balance, known as a unique equilibrium. If there are multiple sets of prices that work, it can lead to confusion. The researchers emphasize the importance of having a limited number of equilibrium price systems to ensure stability in the economy.