Any real world macro-level equilibrium is a built up out of smaller systems in equilibrium which are made up of smaller systems, etc. It’s impossible to know, except ex post, how vulnerable the entire system is to some little exogenous addition causing some sub-sub-sub-system to careen out of its seemingly unshakable orbit.
It’s easy to underestimate how stable and persistent nimbly improvisational sticking-fingers-in-dams systems can be.
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