Thursday, March 18, 2021

No equilibrium anywhere


 George Soros in The Alchemy of Finance says that there is no equilibrium in the markets, and there is no tendency toward a stable state. The market is always flowing. And the market is an imperfect allocative mechanism. (But other systems are even worse). On the same token, I say that there is no equilibrium in evolution, there is always some development and change. The universe itself is not in equilibrium, it is expanding and progressing toward some unimaginable state.  

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