Making the Desert of Plenty bloom

Making the Desert of Plenty bloom

Aggregate demand stimulus that benefits the asset-rich at the expense of everyone else creates inequality and poverty, not prosperity. What is needed is irrigation, not more waterholes.


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Technology changes and post-crisis monetary policy are making financial assets and money indistinguishable. Central banks now need to work in partnership with fiscal authorities.

The desert of plenty

The desert of plenty

Throughout history, humans have dreamed of a world of plenty....but now it is on the horizon, it doesn't look quite so attractive. Do we really want abundance?

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