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In an end of the year piece, the biographer of John Maynard Keynes, economist Lord Robert Skidelsky writes that “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?”
He goes on: “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.”
https://thenextrecession.wordpress.com/2016/12/25/the-system-is-broken/ -- Support Louis Proyect biography project https://www.indiegogo.com/projects/publish-the-biography-of-socialist-louis-proyect#/ _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
