Policies that would have seemed unthinkable barely six months ago are now widely considered part of the mainstream. In the eyes of many, they constitute a sensible and measured response to an unprecedented set of macro conditions. Whether this ultimately proves to be a temporary aberration from the norm remains to be seen. As mentioned in previous columns , it does have the potential to be something rather more substantial: part of a wider rewriting of the economics rulebook.
This challenge to economic orthodoxy is, let us remember, something that predates the Covid-19 pandemic. Populist governments in many parts of […]
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