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#239 – Niall Ferguson: History of Money, Power, War, and Truth
Lex Fridman Podcast
How Much Can This Trust Bear in Human Nature?
It's amazing that us humans, if I were to be optimistic and sort of hopeful about human nature, it gives me a sense that people want to trust. We've avoided major price instability for the better part of 20 years in most of the world. There haven't really been that many very high inflation episodes and hardly any hyperinflationary episodes. But when the system of trust collapses and the monetary system collapses with it, there is generally quite a paucity of records. And so we slightly are biased in favor of the periods when trust prevailed and the system functioned.
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