How the Economic Machine Works — bedrock concepts from Ray Dalio. Worth the 30 minutes if you can find the time. https://www.youtube.com/watch?v=PHe0bXAIuk0 …
interpretation that he meant Situation 1. But you'd know better whether he's being sloppy or just eliding details for lay people
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I mean, I hope I would :p
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I think, unless you have some microeconomics intuition, things like this don't even seem disputable, so we just gloss over them
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