How will we face the economic crisis that is awaiting us? History can give some insight. Since the financial crisis of 2008, industrialised states have been required to rely on the 'superpowers' of the Central Banks to buy back part of their debt, thereby avoiding the phenomenon of debt strangulation. Such practices have raised fears of a return to inflation, and of a threat to the independence of the monetary authorities. However, in the current context such practices can be beneficial, according to economists Gilles Dufrénot, Fredj Jawadi and Guillaume A. Khayat.
June 10th 2020
