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Right, so with constant technological/cultural innovation you cannot have a steady state. It's like steadily increasing the Reynolds number of a system - it may look steady for a while but then you have a shock and bifurcation. And the shocks happen with increasing frequency.

The brainless should not be in banking -- Willem Buiter
by Migeru (migeru at eurotrib dot com) on Thu Apr 15th, 2010 at 12:34:15 PM EST
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