Monday, January 17, 2011

Niall Ferguson!

He says we never come close to equilibrium, we just see equilibriums.

Yes, that is the point.  The economy becomes what we see, a system moving toward equilibrium. We see cars because we see roads.  We do not see random chucks of shiny metal hanging around random chucks of black asphalt.

There is no other solution, would he have us wander around like random bags of protoplasm?

Zero Hedge has Naill, who just randomly ended up in front of a cameras, randomly facing an audience, and randomly spouting utterances.  He needs some Channel Theory.

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