If the Nobel Prize winner for economics Hymen Minsky had bothered to commit an act of heresy by cross referencing economics with thermodynamics he would have found much earlier that 'stability does indeed lead to instability'.
Three mistakes - the first being the consensual belief that all man created contextual categories are acted upon only by their own specialized set (universal) of Laws; the second being the obvious belief that economics is not a type of energy or electric force and lastly, that intellectual enquiry needs to follow established 'political correct' criteria to be fundamentally of merit.
As it was, Minsky's intellectual efforts in economics lead him to write in 1982 that "... stability leads to instability..." for which he was awarded his Nobel Prize. However, to any electrical engineer dealing with thermodynamics this was already then a well known fact.
Men who indulge themselves with intellectual pursuits must soon admit that there are only one set of laws that prevail throughout the Universe and cast out the false idea that there are a full set of unique Laws for every man developed contextuality and categorization.
Man did not create our Universe. Man is a product of this hermetically sealed Universe. Institutional science today demands laws for every category that it finds convenient (self-serving and profitable) to classify and that any person who crosses the boundary of one category in pursuit of answers and research into another category is immediately deemed a Heretic and as such shall be punished according to those sentences established by the Church of Rome around 2000 years ago.
As a consequence, civilization and science today continues to flounder in superstition and ignorance. This is serious stuff indeed and a hefty price to pay for establishing science on such a shaky consensual foundation. Such "heretics" have found, even to this very day, their tenure withdrawn, their jobs lost, rights to publish withdrawn, blacklisted, sent into bankruptcy, exile, false charges brought against them before criminal courts, their families broken and lives lost - not to forget torture, murder and burning at the stake - by today's institutional priests of ignorance in the areas of science, technology, philosophy, bureaucracy, politics, religion and administration. That is, leadership today's demands total obedience to its rule of dogmatized ignorance and the penalties for challenging these 'priests of the dark' is severe if not permanent.
Today throughout the World we have in most countries "fiat" money which effectively has no standards and little value and the forces in play are pushing extremely high level of personal debt against GDP in most countries. Stock Exchanges have become casino's manipulated at the whim of failed political, bureaucratic leadership, regulator controlled fascist commerce and bankrupt bankers. The dollar "dollarization" of the USA dominates the World a and in essence every country in the World finds itseldependentnt upon the US economy for its well being and economic health.. The health of the World's economic system has thus been placed in the hands of the casinos termed 'stock exchanges', innovative and manipulative financial instruments, Greenspan's "derivatives" and failing "hedge funds". A global debt recipe for the mounting economic disaster of biblical proportions; the looming apocalypse.
As the communism of the former USSR rapidly continues its vile and sickening merger with fascism and takes over Europe as Brussels hierarchal controlled socialism where all the "commonwealth" will be placed into the hands of a few priests of these elite classes and as the US races frantically to shed in republic and "democratic" appearances in favor of Europe's love affair with entropy, the global and personal debt levels continue to rise disproportionatelyly to productivity.
The apocalypse is imminent as stability was lost from decades far gone and what now looms is "instability" - some will say 'chaos' but abrupt change indeed where many will die and suffer - needlessly - but in the name of "leadership" cloaked in ignorance. Personal debt due to the incapability of leadership to elevate production to profitability is now the prefered target, called roll-over, it ain't new and it ain't smart and "they" are just hoping to stay in control until the solution comes to hand. It will not. So, now the hedge funds squeeze the corporates for more dividends and higher share value - with no rise in productivity - the whole eocnomics system goes bust. Personal debt will allow those that have liquidity or influence to accumulate assets for as little as nothing to await better times and our little risk adverse and irresponsible leadership will answer every hardship with layoffs - as that is the extent of the capacity. Here is the "black-hole" so touted by astroscience but even this cannot hold the center.
We have placed our faith in ignorance, failed leadership, priestly and hierarchal bureaucracy that can only function within a dogma that has outlived its usefulness and where, in response to this enormous error, civilization will collapse in a state of denial. Publicly listed companies are leading the way; their shares, dividends and executive management all sourced from the trade of the regulators so as to reduce risk by abolishing responsibility through the entrepreneur - the traditional business man. Socialism, another ideology doomed for failure as it pits itself against the Laws of the Universe in the hand of men.
There are some critics arriving at the same conclusions as this discourse who suggest a conspiracy by a few elite priests supported by an army of over eager "true believers" (of the Eric Hoffer tradition). My retort is that there is no conspiracy due to the fact that there does not exist the foundation of the required intellectual eptitude for such an undertaking and if this intellectual integrity did exist, it would not side with greed, corruption, ignorance and the wanted and premeditated destruction of civilization or those forces that are currently in dominant play.
During the 90's there were a number of studies undertaken regarding the management of public companies - the findings of which all indicated then that there was a desperate shortage of and a desperate need for entrepreneurs to run these companies. An entrepreneur being a person who accepts risk, that is a person that is not 'risk adverse', is naturally skilled in risk mitigation and is willing and able to accept the responsibilities of such risk activities. Today, such 'natural 'risk takers or entrepreneurial management have been totally replaced with lesser mechanical and technical men; those that do not have skills other than following orders by their shareholders and will not even consider taking responsibility for their actions. Such lesser men - these CEO's, CFO's, Presidents, Vice Presidents that can be trusted not to interfere with the board members agenda and to do what they are told; obedient officers and corporate generals who would become eventually known as the "Knights of Industry", these men are the destroyers of today's global economic infrastructures under the direction of the frightened, cowardly, inept and irresponsible usurers of the regulatory trade, in most. No conspiracy, just a cowardly class of "generals" that will drop bombs, murder and commit genocide in return for being able to wear a uniform with shiny baubles, oversized hats, gold lace & ribbons.
These regulator types rose to the occasion and developed new education classifications to fill the need for the missing entrepreneurs - they came from the ranks of the regulators as CEOs', CFOs', MBAs', BBA's, financial advisors, Investment Bankers, Fund managers and the like; an endless and mundane chain of corporate ineptitude obedient to the needs of the regulators and the members of the directors and shareholder board members. All in political correctitude.
The Federal Reserve of the USA, a private held company that the US Government transferred its constitutional rights to for the printing of its fiat money, has announced the end to reporting of M3 money supply - a signal that the US is preparing to dump unlimited and unconstrained dollars fresh from the printing presses on the whole World! One wonders the consequences of this pre-apocalyptic insanity. It can only mean that those of the leadership have come to the end of their rope and know not else what to do.
In milk we find acid and alkaline. Alkaline is also an acid. Time leads to instability and eventual separation; coagulation, coalescence, putrification and a natural return to the basic elements. Where throughout the Universe do we not find this process? At the present time our ignorance of the basic fundamentals of science lead us towards the total destruction of civilization by falsely and wrongly believing that we can survive in an environment that we can abuse and corrupt. We cannot. We either live in accord with the Universal Laws (our environment) or we perish (suffer).
Men being brought into this world totally naked are directed by nature to arm themselves with 'Mind'. The sword, or the extension of the hand being naught but that reserved for the animal. Man is, after all, a vital and energetic complicit creation between spirit & matter and is destined to evolve towards spirit (read: intellectual universality) casting off the weapons of the crude and vulgar such as ignorance, death and taxation. Today the difference between the elite and the unwashed masses is merely the coarseness of the cloth in which they wrap themselves and the refined level of weaponry that they use in battle.
Stability does indeed lead to instability, so what is so difficult with this? It is in evidence everywhere, so why cannot we manage our civilization accordingly?
Leadership needs to be replaced with men who dare think and who accept responsibility and act in reason. Men of today need to ignore those among us that would deceive us into embracing ideologies in lieu of science; that is physis or physics, the enquiry in the physical nature of the Universe. Men need to use their minds and to embrace courage. Ideologies can never be and are not in accord with Universal Laws and will never be and hence the pursuit of such is the pursuit of nonsense and superstition.
Science demands to have today's bureaucrats, userers and priests shaken from its temples and return to its laboratories the Heretics for the enquiry; the comparative and analogous enquiry without constraints. The House of Science demands to be totally restructured, redesigned and re-organized with all the walls, abarricadesdes between the divisions torn down and transmuted into a laboratory of integrity, courage, virtues and responsibilities. A house of demonstrable science... a house of imagination... a house of true enquiry that serves intellect, life and the mind.
To ignore electrical charge, electricity, that is the forces of energy, Boyle's Law and the Laws of Thermodynamics and plasma, as ubiquitous Universal fundamentals of Nature is to be unprepared for any office of responsibility.