Time to stop following defunct economic policies



By Anatole Kaletsky – Can economists contribute anything useful to our understanding of politics, business and finance in the real world?

The “old ideas that have been proved wrong,” including inflation targets, self-stabilizing markets, and rigid separation of monetary and fiscal policy, remain dominant where they are most dangerous — in the macroeconomic analysis of finance ministries and central banks.

Overcoming these old ideas will require new thinking about politics and not just economics. more> http://tinyurl.com/llysp3v

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