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Sometimes There Are Only A Few Seconds To Adapt
Michael Hedges July 3, 2017 - Follow on Twitter
Seekers of economic wisdom watch for turning points, moments when trends become reality. Technology almost always points the way. Steam engines effectively powered the Industrial Revolution, replacing horse-drawn power. Steam gave-way to diesel, then lighter fuels which, in turn, allowed aviation, forever changing transportation and, arguably, communication. Through this transition rules, conventions and laws changed to facilitate the new and accommodate the old. Horses have survived, their tasks reaching that turning point.

 

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