On Inflation, Economics Has Some Explaining to Do.

Again, I was right and the economics establisment was wrong. Why? Well, it’s obvious that you can’t just pause an economy and then resume it, as we did with Covid, and expect no ill effects. It was always clear that any exogenous shock — and there are always exogenous shocks — would lead to non-transitory inflation.

There’s no model for this because it’s nearly impossible to plausibly model one-off events. That’s where deep systems thinking capabilities come in, and I have that.