Adapted from the Lua FAQ :
curl -R -O http://www.lua.org/ftp/lua-5.2.0.tar.gz
tar zxf lua-5.2.0.tar.gz
cd lua-5.2.0
make macosx test install
You need a C compiler. Get Xcode if you haven't already.
This works on both Leopard and Lion (and other versions of Mac OS X).
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