We fought the pandemic and the war won

Debunking Economics - the podcast

Вміст надано Steve Keen & Phil Dobbie, Steve Keen, and Phil Dobbie. Весь вміст подкастів, включаючи епізоди, графіку та описи подкастів, завантажується та надається безпосередньо компанією Steve Keen & Phil Dobbie, Steve Keen, and Phil Dobbie або його партнером по платформі подкастів. Якщо ви вважаєте, що хтось використовує ваш захищений авторським правом твір без вашого дозволу, ви можете виконати процедуру, описану тут https://uk.player.fm/legal.

6M ago 36:59

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The pandemic was the biggest economic disturbance since the second world war. In both cases supply chains were severely disrupted, either by German U-boats or, more recently, factories and borders closed to stop the spread of disease. On the face of it, though, we have got off relatively Scot-free. We haven’t seen the massive fall in GDP experienced after the war. In fact we saw a sharper fall in GDP in the 2008 financial crisis.

What is different is how we have handled the readjustment. After the war the focus was on growth, with very low interest rates, even though the inflation rate in Britain almost reached 17%. This time we’re told growth is again the focus, but the policies being applied, by governments and central banks, seem to suggest otherwise.

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