Evolution, Not Revolution, in Economics

Written by Andres Velasco 26 February 2021

“A growing acceptance of aggressive fiscal policy is supposed to be the first principle of a new, post-revolutionary regime in macroeconomics. But the only genuine conceptual change in the decade since the global financial crisis has come from efforts to explain when and why "unconventional" monetary policy works” (Andrés Velasco, 2021).

Publisher: Project Syndicate

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Categories: Economy, Role of Business