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Finance and central banking don't operate according to the laws of thermodynamics. It's hard to argue that finance is a closed system in the physics sense becau
by ploika 7y ago
Finance and central banking don't operate according to the laws of thermodynamics. It's hard to argue that finance is a closed system in the physics sense because wealth can absolutely be created and destroyed.
You're kind of getting at Hyman Minsky's work - the notion that stability in financial markets is inherently unstable. But otherwise you're not really quoting any evidence for some pretty wild predictions.