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Grant Williams & Pippa Malmgren: The End of Magical Thinking, When Narratives Fail

Supply Shock

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How Do You Get Rid of Inflation?

The definition of what is in the national interest has become a paramount question. We used to think that the rising tide would lift all ships and therefore we'd all be better off if the world economy progressed well, he says. But this magical thinking idea does extend to globalisation and cooperation was ultimately magical thinking because whenever the pressure starts, domestic politics always trumps international policy. The whole system has built kind of like Wall Street - it's a permanent growth linear upward exponential hockey stick that doesn't actually exist in reality.

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