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Reading Michael Pettis: Why the Bezzle Matters to the Economy [Ep. 114]
The bezzle is the temporary gap between the perceived value of assets and long-term economic value. Economies at times systematically create bezzle, unleashing substantial economic consequences that economists have rarely understood or discussed. A reading, by Emil Kalinowski.
----------WHO----------
Michael Pettis, Finance Professor at Peking University and Senior Fellow at Carnegie-Tsinghua Center. Read by Emil Kalinowski. Art by David Parkins. Intro/outro is "36mm" by Jobii at Epidemic Sound.
----------WHAT----------
Why the Bezzle Matters to the Economy: https://bit.ly/3B4T5vO…
The skinny
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