This fellow is amazing
The Adam Smith dilemma discovered by George Stigler in 1951, i.e., the Smith theory of invisible hand and perfect competition is incompatible with the Smith theorem on the division of labor limited by the market extent which implies market monopoly. Proposed a trade-off between stability and complexity based on the new science of complexity. Proposed a generalized Smith theorem that the division of labor is limited by the market extend, resource diversity, and environment fluctuations (1999-2002);
see also