We will see the limits of the power of the central bank in the coming ah years, i think. It's just a question of of time before the whole story collapses,. that inflation expectations are permanently anchored at these low levels. If you tell people we're changing the regime, they're ation expectations are bound to adjust. So i think this is, thisis kind of something wth, which i have relatively high confidence, just as i have very high confidence that m m t is a fantasy.
Disasters are inherently hard to predict. Pandemics, like earthquakes, wildfires, financial crises, and wars, are not normally distributed; there is no cycle of history to help us anticipate the next catastrophe. In this episode, Michael Shermer speaks with one of the world’s most renowned historians, Niall Ferguson, who explains why our ever more bureaucratic and complex systems are making us worse, not better, at handling disasters.