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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
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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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