I think it was just the kind of sheer persistence. I mean, you're looking at very long timescales. And maybe the thing that will really link all of these episodes across decades and centuries is more the behavioral response. That could be much more persistent than any technological or resource-driven shock. We could be entering a period of more precautionary attitudes on the part of people when it comes to their finances. It'll show up in asset prices.
In this podcast, economist Alan Taylor covers how history can provide a lens into trends in globalization and wealth and the long-term impact of pandemics.
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