The Politics of Macroeconomic Management

Inflation is transitory in some sense, but as we move forward into a more climate shocked world, we will have shortages. Those shortages will be supply shocks that will create volatility around prices. There are multiple ways in which the international and the domestic kind of dissolve into each other without becoming meaningless drivel. We talk about how China is not one growth model; it's an agglomeration of different growth models and regional specializations. And Latin America is fascinating because its primary purpose has been to produce commodities for other capitalist economies.