Equilibrium

Immigration, Extinction, and Island Equilibrium

Equilibrium is an important concept that permeates many disciplines. In chemistry we think about the point where the rate of forward reaction is equal to the rate of backward reaction. In economics we …

Mental Model: Equilibrium

There are many ways in which you can visualize the concept of equilibrium, but one of the simplest comes from Boombustology where a ball sits on a simple curved shape. A situation in which equilibrium …