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Memoization is a higher order function that caches another function. It can turn some slow functions into fast ones. It saves the result of a function call after the first time to the cache, so if you call the function again with the same arguments, it will find it in the cache.
An off-the-cuff stream of Functional Programming ideas, skills, patterns, and news from Functional Programming expert Eric Normand of LispCast. Formerly known as Thoughts on Functional Programming.