What the New Cold War Means for the Global Economy with Niall Ferguson
Merryn Talks Money
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The Importance of the Exogenous Variables
The key thing to remember is we can't really know because of all the exogenous variables, particularly the geopolitical variables. If there were a sudden surge of conflict in the Middle East, then obviously inflation would go back up. A lot of what goes on in economics is almost theological where they'll sit around with their model tweaking the variables and forgetting that the exogenous shocks are the things historically that drive inflation.
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