41.   In isotropic turbulence these two curves would be identical.

42.   The L curve is elastic.

43.   The L curve is inelastic.

44.   The L curve is thus likely to shift around and be hard to predict.

45.   Evidence suggests that the L curve is relatively elastic.

46.   In the extreme case where the aggregate supply curve is vertical, the increased money supply will simply lead to higher prices.

47.   Nevertheless, unless the liquidity preference curve is totally elastic, some financial crowding out will occur.

48.   A more serious Keynesian criticism is that the liquidity preference curve is unstable.

49.   Thus the L curve can be highly volatile.

50.   Curve are on a roll now.