Skidelsky, Robert, (2016), “Economists versus the Economy”, Project Syndicate, 23 Δεκεμβρίου
Let’s be honest: no one knows what is happening in the world economy today. Recovery from the collapse of 2008 has been unexpectedly slow. Are we on the road to full health or mired in “secular stagnation”? Is globalization coming or going?
Policymakers don’t know what to do. They press the usual (and unusual) levers and nothing happens. Quantitative easing was supposed to bring inflation “back to target.” It didn’t. Fiscal contraction was supposed to restore confidence. It didn’t. Earlier this month, Mark Carney, Governor of the Bank of England, delivered a speech called “The Specter of Monetarism.” Of course, monetarism was supposed to save us from the specter of Keynesianism!
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- Muellbauer, John, (2016), “Macroeconomics and consumption: Why central bank models failed and how to repair them”, VoxEu, 21 Δεκεμβρίου
- Pisani-Ferry, Jean, (2016), “Preventing the Next Eurozone Crisis Starts Now”, Project Syndicate, 1 Δεκεμβρίου