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"Lenz's law is also directly related to energy conservation.If the induced
current in Example 29.6 were in the direction opposite to that given by
Lenz's law, the magnetic force on the rod would accelerate it to
ever-increasing speed with no external energy source, even though electric
energy is being dissipated in the circuit. This would be a clear violation
of energy conservation and doesn't happen in nature."
It seems to me that you would always have a runaway effect.