The consequence of this discovery is phenomenal. It truly is the first step in the direction of the Grand Unified Theory.
Nature wants to stay the same.
This result also follows from conservation of energy arguments. When one drops a permanent magnet vertically down a pipe made of a conducting material, Faraday's law and Lenz's law are both evident in the motion of the magnet. The magnet has its own constant magnetic field typified by its dipole moment, . This will induce an and therefore a current in these regions. Lenz's law can be used to determine the direction of the induced currents.