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Many of Brinkmann's contemporaries believed that conventional criticism, be it social or political, did nothing to counter what they saw as the prevalent evil of their times; the erosion of the individual's sensual and imaginative capacity by a frictionlessly functioning rational system.
In other words, the latter channel is immune to the aforementioned critique by Romer and Romer (1990), unless one believes that banks can at any time frictionlessly issue new equity, as opposed to nonreservable liabilities.
To the contrary, they offer numerous reasons why one might not expect wages and prices to adjust frictionlessly to eliminate a transitory surplus in the supply of labor.
And of course, pretending that safety expenditures translate frictionlessly into economically induced health risks and suicides seems, at best, a facetious stretch of economic imagination.
As in the monetary policy example, maybe markets don't adjust frictionlessly.
The general thrust of the contract/institutionalism field is that markets do not function frictionlessly as an interaction of supply and demand.
26) This enforcement mechanism, while relatively efficient for those who exercise it, cannot be employed frictionlessly.
With Docker, IT organizations shrink application delivery from months to minutes, frictionlessly move workloads between data centers and the cloud, and improve infrastructure efficiency by 50 percent or more.
First theorized in 1970, a supersolid displays the essential characteristics of a solid, with atoms arranged in regularly repeating patterns like that of a crystal lattice, and of a superfluid, with the particles flowing frictionlessly and without losing any energy.
The model incorporates three key features: (i) value-maximizing insurers and reinsurers face product-market as well as capital-market imperfections that give rise to well-founded concerns with risk management and capital allocation; (ii) some, but not all, of the risks they face can be frictionlessly hedged in the capital market; and (iii) the distribution of their cash flows may be asymmetric, which alters the demand for underwriting and hedging.
This is an implication of the well-known Coase Theorem, which asserts that, so long as parties can contract frictionlessly, efficiency simply happens no matter what form the initial entitlements take.
These devices and apps have been integrated using OpenHome's secure, solid open standards, to ensure they all work together frictionlessly in real-world conditions.