The Great Demographic Reversal, Aging Societies, Waning and Equality, and an Inflation Revival. Most of the book, as I understand it, was written in 2019, and it was published in 2020. And many of the predictions that you make in the book related to inflation in particular have, in fact, manifested. We're living through them currently. To what extent they'll prove durable, is debatable, and it's certainly something that I want to explore with you here today. But before we do that, I'd love to know what the origins of this book are, and when you and your co-author began to develop the arguments that you put forward in it. As I recall, and my memory is getting worse, the problem that we were concerned with was why there was such disinflation in the period after the great financial crisis in 2008, and why the recovery was so sluggish. I was working at that time as a consultant at Morgan Stanley in London, and Manoj Pradhan was another economist working at Morgan Stanley. And we began (4/43)
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