The Insupportable Equilibrium of Economic Thought
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March 18 (Bloomberg) -- Conjure an image in your mind: apencil resting on a small table, perhaps next to a notebook. Inwhat position did you imagine the pencil? Lying on its side,right? Why not upright, with either the eraser or the graphitetip touching the table and the rest pointing into the air?
In terms of strict physical forces, it’s possible toposition a pencil this way. We never see it happen because eventhe tiniest vibration, from the rumble of someone tapping thetable to a slight shift in air currents, will knock it over.