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                                   April 29, 2001

The business cycle considered
as a generator of diversity.        NOWHERE_PUNK
Different strategies are
employed when times are "good"
or "bad".
                                    Fields of slick, freshly
   Infinite prosperity              built condos leave many of
   would be an unambiguous          us praying -- how seriously,
   good only to the extent          it's hard to say -- for
   that infinite freedom            recessions and earthquakes.
   is, and it always runs
   up against the walls of
   human stupidty.
                                       UNINTENDED
But this is not an argument for
tighter governmental control.

If unlimited freedom can be
problematic for individuals,
it's disastrous for governments.

                    DRAG
What is is, is an
argument for *drag*.                  As opposed to
                                      the naive free
                                      market argument
   Checks and                         that transaction
   balances aren't                    costs of zero
   only appropriate                   would be good.
   just for
   government.                              Less drag -->
                                            greater *efficiency*.

                                                 EFFICIENTLY_INVISIBLE

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