Comment on Mandelbrot Beats Economics in Fathoming MarketsparentComments−bandushrew14yI think maybe a key mistake economists make regularly is equating an equilibrium with a lack of change.In nature stability - on average - is often achieved by matching peaks and troughs, not by a lack of change (nature abhors a lack of change)(see vacuum fluctuations)−VladRussian14y>In nature stabilityor at least in somewhat understandable models beyond simple linear ones:http://mathworld.wolfram.com/StrangeAttractor.html
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I think maybe a key mistake economists make regularly is equating an equilibrium with a lack of change.
In nature stability - on average - is often achieved by matching peaks and troughs, not by a lack of change (nature abhors a lack of change)
(see vacuum fluctuations)
>In nature stability
or at least in somewhat understandable models beyond simple linear ones:
http://mathworld.wolfram.com/StrangeAttractor.html