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In conversation with Rory Sutherland - Part 1
Simplifying Complexity
Exploring the Effects of Reduced Journey Times and Nonlinearity in Economic Models
Reducing journey times between major cities can have significant impacts on work flexibility and productivity. Linear economic models do not accurately represent real-world complexities and disparities, as seen in the example of interest rate hikes affecting different socio-economic groups. Nonlinear factors like individual circumstances need to be considered for more nuanced economic decision-making, rather than relying on simplistic average-based models.
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