Other forces could disrupt or accelerate the Big Cycle: AI is creating a drastic shift of wealth, with the potential to destroy jobs unlike anything we’ve experienced before. Artificial general intelligence could materially change the structure of money and nature of growth while creating faster and more volatile cycles. And one other factor comes to mind, following a fascinating discussion at the Explorers Club on Friday with NYU glaciologist David Holland about the “doomsday” Thwaites glacier in Antarctica: The accelerating pace of climate change, if not addressed, could make that coveted stage 1 seem even further away.
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