Is Enron coming for lunch? Introduction The past three decades have offered ample evidence of the ability of disruptive technologies to create and redistribute wealth. From disc-drives, to flat panel displays, to audiocassettes, each of these technological advances have shared a set of the common features: An existing technology satisfied the market demand. A newly…

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Economic transactions and industrial reorganizations are akin to the evolution of a complex system punctuated with periods of equilibrium and non-equilibrium dynamics. The reactions of firms to the type of dynamics underway determine their competitive position for the next period. In this article, I will clarify an analogy of our economy to systems undergoing equilibrium…

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