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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
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Dr Buiter’s team adds the usual caveats: “beware of compound growth rate delusions;” or “the bigger the booms, the more spectacular the bubbles, and the devastating the busts;” or indeed that “convergence is neither automatic, nor inevitable. In history, it has been more the exception than the rule.”
Anyone,
What is meant by "convergence" as in: "convergence is neither automatic, nor inevitable."?
Please, don't be shy.