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I'm not even sure if every polynomial has an inverse, and what restrictions are required on them to have inverses. For example, the people in this question seem to suggest that the polynomial needs to be increasing to have an inverse.

My main question is, does every power series have an inverse?

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This link on the inversion of power series may help you: http://www.ams.org/mcom/1947-02-020/S0025-5718-1947-0022717-X/S0025-5718-1947-0022717-X.pdf

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Every polynomial is a power series, just with infinitely many zero coefficients.

If you believe that not every polynomial has an inverse, then you already know that not every power series has an inverse, because the polynomials which lack inverses are already counterexamples.

Chill2Macht
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    What you write is false: the polynomial $1-x \in \mathbb Q[x]$ has no inverse in $\mathbb Q[x]$, but has an inverse seen as a power series, namely $1+x+x^2+...+x^n+...\in \mathbb Q[[x]]$. – Georges Elencwajg May 16 '20 at 11:07
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According to Lagrange Inversion Theorem, the inverse of an analytic function near $x=f(a)$ is given by

$$f^{-1}(x)=a+\sum_{n=1}^\infty\left\lbrace\lim_{w\to a}\left[{(x-f(a))^n\over n!}{d^{n-1}\over dw^{n-1}}\left({w-a\over f(w)-f(a)}\right)^n\right]\right\rbrace$$