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This is an excellent piece that I suspect will go under-read. I came across it last night as I magically found myself awake at 3:30 a.m. for no good reason. Here's an excerpt, it's well worth a full read: "But any complex system has a tradeoff between efficiency and robustness. This is something we discussed at length in ECONNED, how economic theory bizarrely assumes stability by assuming that economies have a propensity to equilibrium."
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It's the end of the world as we know it.
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