Crisis and the Role of Money in the Real and Financial Economies„An Innovative Approach to Monetary Stimulus

In the short run, this policy orthodoxy achieved its stated goal, but in the longer run it acted to block the natural process of restoring robust finance, with the consequence that an increasingly fragile financial structure served as an increasing obstacle to capital investment and hence also to robust economic performance. Because of government i

Nick Hildyard at The Corner House

fiscal stimulus was out of the question. This ‘asset-price Keynesianism’ offered an alternative way to get the economy growing in the absence of deficit spending and competitive manufacturing.