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Economics Reinvents Itself Every Few Decades. It's Happening Now

22 May 2019 14:16 | Divjot S. Mehton (Administrator)

It takes a trauma to shake up economics. After the Great Depression, and again during the stagflation of the 1970s, new orthodoxies emerged. Something similar may be under way now, a decade after the financial crisis, as economists and investors start to wonder if it’s time for a different approach.

At the Start of the Central Bank Era, Inflation Was The Enemy

For a half-century or so, there’s been broad agreement in developed countries that monetary policy is the most effective tool for managing the economy.

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