Monetary Policy
Economics Reinvents Itself Every Few Decades. It's Happening Now
Ten years after the financial crisis, economists and investors are questioning all of their old assumptions.
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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