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We argue that the present crisis and stalling economy that have been ongoing since 2007 are rooted in the delusionary belief in policies based on a "perpetual money machine" type of thinking. We document strong evidence that, since the early 1980s, consumption has been increasingly funded by...
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: Central Banks and the World Economy (Mervyn Allister King) -- Chapter 4. How Elastic Money Should Be: Flexible Monetary Policy …In light of the pickup of inflation at the end of 2021 and monetary policy shifts by the world's major central banks …
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