It’s inadvisable to sleepwalk on megathreat mountain
From stagflationary trends and elevated debt to AI taking jobs away amid geopolitical tensions, we face megathreats of greater complexity and size than we did in the previous century.
A host of inter-connected ‘megathreats’ is imperilling our future. While some of these have been long in the making, others are new. The stubbornly low inflation of the pre-pandemic period has given way to today’s excessively high inflation. Secular stagnation—perpetually low growth owing to weak aggregate demand—has evolved into stagflation, as negative aggregate supply shocks have combined with the effects of loose monetary and fiscal policies.
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