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The twentieth century opened with Max Planck's theory of quantum mechanics in 1900, stating the discontinuity of the material universe. In the same year Sigmund Freud published his "Interpretation of Dreams" stating the discontinuities of our conscious and unconscious lives. So far as I am aware, economists have not yet matched physics and psychology with any statement of the discontinuity of the economic bond. All existing theories of inflation are hardware theories, nuts and bolts theories, theories of connected and continual rational processed of supply and demand.
The equilibrium theories of supply and demand concern the quantities of "hardware" as it were, whereas the disequilibrium realities occur at the speed of "software." "Software" is the world of electric information and also computer programming. It can, however, be understood to include the entire world of electronic service environments that began with the telegraph and which include the telephone as well as television and satellites. All of these constitute a new service environment of electronics pulsation which makes possible the dealing in "futures" and the anticipation of the gaps and intervals in supply and demand.
At electric speeds of information movement, it is precisely these intervals that invite the dealer in "futures" to gamble. Instant information reveals a wide diversity of new patterns of change; which entice everybody to anticipate changes to come. Ordinary people are thus inspired with the mania which is born of perception, not of the connection, but of the interval between the now and the rapidly approaching new situation. This becomes a way of living "as if every moment were your next."